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Quarterly Dividend Increased 12%
Share Repurchase
Program Increased to $2 Billion
NEW YORK--(BUSINESS WIRE)--May 15, 2014--
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 12% to
$.28 per share on outstanding common stock. The dividend is payable on
August 15, 2014 to shareholders of record on July 11, 2014.
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.
Marsh & McLennan Companies Independent Chairman of the Board Lord Lang
of Monkton said: "Effective capital management allows Marsh & McLennan
Companies to return cash to shareholders while investing in its
businesses and its people. The Company is committed to delivering
superior value to shareholders, as demonstrated by today's increase in
the Company's quarterly dividend and share repurchase program."
Marsh & McLennan Companies also announced that shareholders re-elected
the entire slate of 2014 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, Steven A. Mills, Bruce P.
Nolop, Marc D. Oken, Morton O. Schapiro, Adele Simmons, 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 2014 and approved, by nonbinding
vote, the compensation of the Company's named executive officers.
An audio webcast of the Marsh & McLennan Companies 2014 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 human capital. 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 exceeding $12 billion, Marsh & McLennan Companies' 55,000
colleagues worldwide provide analysis, advice, and transactional
capabilities to clients in more than 130 countries. The Company prides
itself on being a responsible corporate citizen and making a positive
impact in the communities in which it operates. Visit www.mmc.com
for more information.
Source: Marsh & McLennan Companies, Inc.
Marsh & McLennan Companies
Media:
Edward L.
Dandridge, +1-212-345-9751
ed.dandridge@mmc.com
Investors:
Keith
Walsh, +1-212-345-0057
keith.walsh@mmc.com