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Marsh & McLennan Companies’ (MMC - Free Report) board of directors has declared a 20% increase in its quarterly dividend, raising it to 71 cents from 59 cents per share. The dividend will be paid out on Aug 15, 2023, to stockholders of record as of Jul 27, 2023. This announcement demonstrates the company's dedication to rewarding its shareholders.
Impressive Dividend History
Marsh & McLennan has a remarkable track record of consistent cash flow generation, which has been instrumental in solidifying investors' trust. The disciplined capital management, including share buybacks and dividend payments, has further contributed to its strong reputation. The recent rise marks the 14th consecutive year of dividend growth at Marsh& McLennan. With a dividend yield of 1.3%, MMC continues to outperform the industry average of 1.1%.
Capital Deployment Strategy
In addition to the dividend increase, Marsh & McLennan has outlined its plans for capital deployment. The company's board of directors authorized a share buyback plan of $5 billion in March 2022. As of Mar 31, 2023, approximately $4 billion remained available under this authorization.
In 2023, Marsh & McLennan aims to deploy approximately $4 billion in capital through various avenues, including dividends, strategic acquisitions and additional share buybacks. This proactive approach to capital deployment further reinforces the company's commitment to maximizing shareholder value.
Strengthening Investor Confidence
Marsh & McLennan's decision to increase its quarterly dividend and its ongoing capital deployment strategy exemplifies its dedication to its shareholders. As the company continues to generate strong cash flows and pursue strategic opportunities, investors can expect continued value creation and growth.
Zacks Rank and Price Performance
Marsh & McLennan carries a Zacks Rank #2 (Buy) currently.
Shares of MMC have gained 13.3% in a year compared with the industry’s increase of 10.2%.
RLI delivered a four-quarter average earnings surprise of 43.50%. Year to date, the insurer has lost 1.8%. The Zacks Consensus Estimate for RLI’s 2023 and 2024 earnings indicates a respective year-over-year increase of 7.9% and 3.9%.
Kinsale delivered a four-quarter average earnings surprise of 14.77%. Year to date, the insurer has gained 23.8%. The Zacks Consensus Estimate for KNSL’s 2023 and 2024 earnings indicates a year-over-year increase of 36.2% and 21.4%, respectively.
HCI Group delivered a four-quarter average earnings surprise of 308.82%. Year to date, the insurer has gained 3%. The Zacks Consensus Estimate for HCI’s 2023 and 2024 earnings indicates a respective year-over-year increase of 149.3% and 35.2%.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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Marsh & McLennan (MMC) Board Announces 20% Dividend Hike
Marsh & McLennan Companies’ (MMC - Free Report) board of directors has declared a 20% increase in its quarterly dividend, raising it to 71 cents from 59 cents per share. The dividend will be paid out on Aug 15, 2023, to stockholders of record as of Jul 27, 2023. This announcement demonstrates the company's dedication to rewarding its shareholders.
Impressive Dividend History
Marsh & McLennan has a remarkable track record of consistent cash flow generation, which has been instrumental in solidifying investors' trust. The disciplined capital management, including share buybacks and dividend payments, has further contributed to its strong reputation. The recent rise marks the 14th consecutive year of dividend growth at Marsh& McLennan. With a dividend yield of 1.3%, MMC continues to outperform the industry average of 1.1%.
Capital Deployment Strategy
In addition to the dividend increase, Marsh & McLennan has outlined its plans for capital deployment. The company's board of directors authorized a share buyback plan of $5 billion in March 2022. As of Mar 31, 2023, approximately $4 billion remained available under this authorization.
In 2023, Marsh & McLennan aims to deploy approximately $4 billion in capital through various avenues, including dividends, strategic acquisitions and additional share buybacks. This proactive approach to capital deployment further reinforces the company's commitment to maximizing shareholder value.
Strengthening Investor Confidence
Marsh & McLennan's decision to increase its quarterly dividend and its ongoing capital deployment strategy exemplifies its dedication to its shareholders. As the company continues to generate strong cash flows and pursue strategic opportunities, investors can expect continued value creation and growth.
Zacks Rank and Price Performance
Marsh & McLennan carries a Zacks Rank #2 (Buy) currently.
Shares of MMC have gained 13.3% in a year compared with the industry’s increase of 10.2%.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks from the insurance industry are RLI Corporation (RLI - Free Report) , Kinsale Capital Group (KNSL - Free Report) and HCI Group (HCI - Free Report) , each sporting Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
RLI delivered a four-quarter average earnings surprise of 43.50%. Year to date, the insurer has lost 1.8%. The Zacks Consensus Estimate for RLI’s 2023 and 2024 earnings indicates a respective year-over-year increase of 7.9% and 3.9%.
Kinsale delivered a four-quarter average earnings surprise of 14.77%. Year to date, the insurer has gained 23.8%. The Zacks Consensus Estimate for KNSL’s 2023 and 2024 earnings indicates a year-over-year increase of 36.2% and 21.4%, respectively.
HCI Group delivered a four-quarter average earnings surprise of 308.82%. Year to date, the insurer has gained 3%. The Zacks Consensus Estimate for HCI’s 2023 and 2024 earnings indicates a respective year-over-year increase of 149.3% and 35.2%.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.