Marsh & McLennan Cos. Inc., a New York insurance brokerage firm, announced a 12% increase in its quarterly common stock dividend during the fourth quarter.
The dividend will rise to 19 cents per share from 17 cents, the company announced Wednesday. It is payable on Feb. 15 to shareholders.
Marsh had cut the dividend from 34 cents per share in March 2005 after agreeing to pay an $850 million settlement over a lawsuit filed by the New York Attorney General’s office accusing the insurance company of steering business to insurers that paid fees.
In December it was reported that Marsh is planning a $3.9 billion deal to sell its Boston mutual fund arm, Putman Investments, to Power Corp. of Montreal.
