Marsh & McLennan Ups Quarterly Dividend
NU Online News Service, May 16, 11:00 a.m. EDT?Marsh & McLennan Companies Inc. said it is raising the company's quarterly cash dividend by 11 percent, to 31 cents from 28 cents per share on its outstanding common stock.
The decision, which has been reached after a voting by the board of directors, will go into effect in mid-August when the new dividend would be paid out to shareholders of record, the company said.
This dividend boost extends the company's record of increasing total annual dividends paid to shareholders every year since the company went public in 1962.
Speaking at Marsh & McLennan's annual shareholders meeting, where the dividend decision was announced, chairman Jeffrey W. Greenberg noted that the company's positive attributes have helped create value for shareholders.
"We are very well positioned….our prospects have never been better," Mr. Greenberg said.
Based in New York, Marsh & McLennan is the world's largest insurance brokerage company. It is a global professional services firm with annual revenues of more than $10 billion, the company said.
Marsh & McLennan is also the parent company of Marsh Inc., a risk and insurance services firm.
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