By Colin Kellaher

Marsh & McLennan on Tuesday said its board raised the quarterly dividend by 20%, to 71 cents a share from 59 cents.

The new payout, equal to $2.84 a year, represents an annual yield of about 1.54% based on Monday's closing price of $184.91, up from 1.28%.

The New York professional-services company said the increased dividend is payable Aug. 15 to shareholders of record July 27.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

July 11, 2023 08:27 ET (12:27 GMT)

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