Marsh & McLennan Hikes Dividend; Share Repurchase Program Increased To $2 Bln

(RTTNews) - Marsh & McLennan Companies, Inc. (MMC) 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.