AJG To Pay Dividend
NU Online News Service, Nov. 20, 3:03 p.m. EST?Arthur J. Gallagher Inc., the insurance brokerage firm headquartered in Itasca, Ill., said it would pay a regular quarterly cash dividend of 18 cents per share to common stock shareholders of record as of Dec. 31 on Jan. 15, 2004.
For the third quarter of this year, AJG reported net income rose 110 percent from $23.3 million to $48.9 million, an increase of $25.6 million. Earnings per share rose from 25 cents a share to 52 cents. Revenues were up 35 percent, increasing from $256.5 million to $345 million.
For the nine months, AJG's net income rose 6 percent, or $5.5 million, from $91.5 million to $97 million for 2003. Earnings per share rose four cents, from $1 to $1.04. Revenues increased 18 percent, or $136 million, from $762.3 million to $898.3 million.
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