Arthur J. Gallagher & Co. declared a regular quarterly cash dividend of 30 cents per share on the company's common stock payable on July 14 to shareholders of record as of June 30.
The payment equals the previous dividend payment of 30 cents a share, which was an increase of 2 cents a share over earlier payments.
For the first quarter of 2006 the Itasca, Ill.-based insurance broker reported net income of $17 million, or 17 cents a share, compared to a loss of $74 million, or per share loss of 85 cents. Revenues were down $19 million, from $347 million in 2005 to $328 million (see NU Online, April 21).
The decrease in revenue was due mainly to a $26 million drop in investment income and the loss of contingent income which amounted to $17 million in the first quarter of 2005.
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