Marsh Announces Dividend
NU Online News Service, March 25, 12:22 p.m. EST?Marsh & McLennan Companies said it voted a common stock quarterly-dividend payment of 28 cents per share.
The dividend is payable May 15 to shareholders of record as of April 9.
New York City-based MMC, the parent company of global insurance broker Marsh, reported $312 million in net income for the fourth quarter of 2002 on $2.6 billion in revenue. This compares with $144 million in net income on $2.3 billion in revenue for the fourth quarter of 2001.
The firm reported full-year net income rose 40 percent to $1.4 billion in 2002 compared to $974 million for 2001. Revenues rose 6 percent to $10.4 billion from $9.9 billion in 2001.
Revenues at Marsh rose 18 percent, or $239 million, for the fourth quarter, from $1.33 billion to $1.6 billion. For the year, revenues were up $758 million, or 15 percent, going from $5.2 billion in 2001 to $5.9 billion for 2002.
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