Quarterly Dividend Increased 11%
Share Repurchase Program Increased to $2 Billion
NEW YORK--(BUSINESS WIRE)--May 21, 2015--
Marsh & McLennan Companies, Inc. (NYSE:MMC) today held its annual
meeting of shareholders at which the Company announced that its Board of
Directors voted to increase both the Company’s quarterly cash dividend
and share repurchase program.
The Board of Directors increased the quarterly cash dividend by 11% from
$.28 to $.31 per share on outstanding common stock. The dividend is
payable on August 14, 2015 to shareholders of record on July 10, 2015.
The Board also authorized an increase in the Company’s share repurchase
program, allowing management to buy back up to $2 billion of the
Company’s common stock going forward, which supersedes any prior
authorization.
Marsh & McLennan Companies Independent Chairman of the Board Lord Lang
of Monkton said: “Today’s actions to increase Marsh & McLennan’s
quarterly dividend and share repurchase program demonstrate the
Company’s commitment to creating long-term value for shareholders. The
ability to return capital to investors while also investing in growth
and efficiencies is a hallmark of effective capital management.”
Marsh & McLennan Companies also announced that shareholders elected the
entire slate of 2015 director nominees for a one-year term expiring at
next year's annual meeting. They are: Oscar Fanjul, Daniel S. Glaser, H.
Edward Hanway, Lord Lang, Elaine La Roche, Maria Silvia Bastos Marques,
Steven A. Mills, Bruce P. Nolop, Marc D. Oken, Morton O. Schapiro, Lloyd
M. Yates and R. David Yost.
In further business at the annual meeting, shareholders ratified the
selection of Deloitte & Touche LLP as the Company's independent
registered public accounting firm for 2015 and approved, by nonbinding
vote, the compensation of the Company’s named executive officers.
An audio webcast of the Marsh & McLennan Companies 2015 annual meeting
can be accessed at www.mmc.com.
About Marsh & McLennan Companies
MARSH & McLENNAN COMPANIES (NYSE:MMC) is a global professional services
firm offering clients advice and solutions in the areas of risk,
strategy and people. Marsh
is a global leader in insurance broking and risk management; Guy
Carpenter is a global leader in providing risk and reinsurance
intermediary services; Mercer
is a global leader in talent, health, retirement, and investment
consulting; and Oliver
Wyman is a global leader in management consulting. With annual
revenue of $13 billion and 57,000 colleagues worldwide, Marsh & McLennan
Companies provides analysis, advice and transactional capabilities to
clients in more than 130 countries. The Company is committed to being a
responsible corporate citizen and making a positive impact in the
communities in which it operates. Visit www.mmc.com
for more information.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150521005916/en/
Source: Marsh & McLennan Companies, Inc.
Marsh & McLennan Companies
Media:
Edward L.
Dandridge, +1-212-345-9751
ed.dandridge@mmc.com
or
Investor:
Keith
Walsh, +1-212-345-0057
keith.walsh@mmc.com
