Marsh & McLennan Boosts Quarterly Dividend; Stock Buyback Program

(RTTNews) - Marsh & McLennan Companies, Inc. (MMC) on Thursday held its annual meeting of shareholders at which the company announced that its Board of Directors has voted to increase both the company's quarterly cash dividend and share repurchase program.

The company said its board increased the quarterly cash dividend by 12% to $.28 per share, payable on August 15 to shareholders of record on July 11.

Marsh & McLennan also said its board has 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.

Additionally, Marsh & McLennan said that its shareholders re-elected the entire slate of 2014 director nominees for a one-year term expiring at next year's annual meeting.

Shareholders also ratified the selection of Deloitte & Touche LLP as the company's independent registered public accounting firm for 2014 and approved, by nonbinding vote, the compensation of the company's named executive officers.