NU Online News Service, April 27, 3:41 p.m. EDT
Itasca, Ill.-based insurance broker Arthur J. Gallagher & Co. will pay a quarterly dividend of 32 cents per share on common stock, payable July 15 to shareholders of record as of June 30.
For the fourth quarter of 2008, AJG reported net income dropped 80 percent. The firm said net income fell by close to $19 million to $5 million in the quarter from $23 million in the prior-year fourth quarter.
Earnings stood at 5 cents per share compared to 25 cents in 2007. Revenues were up slightly by $2 million to $412 million in the quarter.
For the year, net income dropped 44 percent, or $61 million, from $139 million, or $1.43 per share in 2007, to $77 million, or 82 cents per share for 2008. Revenues rose 1 percent, or $21 million, to $1.65 billion.
AJG will release its first-quarter earnings Tuesday after the markets close and hold an analyst's conference call on Wednesday morning.
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