MMC Declares Dividend Payment
By Mark E. Ruquet
NU Online News Service, March 22, 10:46 a.m. EST?Marsh and McLennan Co. Inc., New York, announced yesterday it would pay a quarterly dividend of 53 cents per share on May 15 to shareholders of record as of April 9.
The dividend remains unchanged from last quarter's announcement.
In the company's fourth-quarter financial release on Jan. 30, MMC reported net income of $974 million for the 12 months ending Dec. 31, 2001, compared to net income of $1.2 billion for 2000. The decline resulted in a diluted net income per share of $3.39 for 2001 compared to $4.10 in 2000.
Marsh, the company's insurance broker subsidiary, reported revenues of $5.2 billion for 2001 compared to $4.8 billion in 2000, an increase of 8 percent. Operating income grew 21 percent to $1.1 billion, the company said.
The company's investment arm, Putnam, reported sharp declines, while the consulting division, Mercer, saw slight increases.
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