Aon Allocates $7.5bn For Share Repurchase Scheme

 This one arrived late on Friday, huge share re-purchase announced by Aon;

Aon plc (NYSE: AON), a leading global professional services firm, has announced that the Board of Directors has authorized an additional $7.5 billion in share repurchases. This is in addition to Aon’s existing share repurchase program, which had approximately $1.7 billion of remaining authorization as of December 31, 2021. Total authorization increased to approximately $9.2 billion, before any share repurchase in the first quarter. Aon intends to complete the existing authorization before repurchasing shares under the new authorization.

The Board of Directors has also authorized a 10% increase to its quarterly cash dividend on Aon’s outstanding Class A Ordinary Shares to $0.56 per share.

“Today’s announcement reinforces our conviction in our Aon United strategy, strong free cash flow generation outlook, and continued focus on maximizing total return for shareholders,” said Greg Case, Chief Executive Officer. “We continue to build momentum and believe our disciplined approach to return on invested capital will result in substantial long-term shareholder value creation.”

Including the new authorization, up to $9.2 billion, before any share repurchase in the first quarter, of Aon’s Class A ordinary shares may be purchased from time to time on the open market, in block trades, in privately negotiated transactions, pursuant to Rule 10b5-1 plans or otherwise, depending on market conditions or other factors. The program does not obligate Aon to acquire any particular amount of shares and may be suspended or discontinued at any time.

About alastair walker 10175 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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