Marsh & McLennan Companies said Thursday it will raise its quarterly dividend by 9.6%, to 45.5 cents a share from 41.5 cents. The new dividend will be payable Aug. 15 to shareholders of record on July 11. The financial services company’s stock rose 1.4% in morning trade. Based on current price, the new annual dividend rate implies a dividend yield of 1.89%, which compares with the yield for the SPDR Financial Select Sector ETF of 1.94% and the implied yield for the S&P 500 of 1.99%, according to FactSet. Marsh & McLennan’s stock has climbed 20.5% year to date, while the financial ETF has advanced 13.9% and the S&P 500 has gained 15.2%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Latest posts by Market Watch (see all)
- Paul Brandus: The Trump era could wind up like the 1930s - August 24, 2019
- Add a new risk — geopolitics — to the list of U.S. stock market worries - August 24, 2019
- Market Extra: Interest rate cuts could make these bonds an attractive target - August 23, 2019