Marsh & McLennan Companies (MMC) will raise its quarterly dividend by 15.1 percent to 53.5 cents per share in 201. This comes after a dividend hike of 2.2 percent in 2020 and will mark 12 consecutive years of dividend increases by the professional services firm.
The next dividend is payable on August 13, 2021, to stockholders of record on July 29, 2021. The new yield for professional services firm is 1.5% based on the annual payment of $2.14 and a stock price $141.
Marsh & McLennan last announced a double digit dividend increase in 2018, when the quarterly dividend was boosted by 10.7 percent. This year's dividend hike so far is the smallest announced by the company since 2009. During the financial crisis Marsh & McLennan did nog announce a dividend increase.
Marsh & McLennan Companies, Inc. is a professional services firm offering clients advice and solutions in risk, strategy and people. Its businesses include: Marsh, the insurance broker, intermediary and risk advisor; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of HR and investment related advice and services; and Oliver Wyman Group, the management, economic and brand consultancy. The company conducts business through two segments: Risk and Insurance Services and Consulting. Marsh was originally founded in 1871.