On July 11, 2023, Marsh & McLennan Companies (MMC) announced a big 20.3% dividend hike to $0.71 quarterly per share. This dividend is payable on August 15, 2023, to stockholders of record on July 27, 2023. The new yield for MMC is 1.5% at a stock price of $184.91 and the insurance company has now raised its dividend 14 consecutive years.
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.