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ITASCA, Ill., Jan. 18 /PRNewswire-FirstCall/ -- Arthur J. Gallagher & Co. (NYSE: AJG) announced that its Board of Directors declared a quarterly cash dividend on the company's common stock of thirty one cents ($.31) per share payable on April 13, 2007 to shareholders of record as of March 30, 2007.
Gallagher also announced that its Board reauthorized its stock repurchase plan. The Plan, originally adopted on May 10, 1988, authorizes the repurchase of up to 5 million shares at such times and prices as the company may deem advantageous and in compliance with the SEC's Rule 10b-18. There is no commitment or obligation on the part of the company to purchase any particular amount of common stock and the plan can be suspended at any time at the company's discretion.
"We place a high priority on delivering growth and value to our shareholders, which is evident by our 15 straight years of dividend increases and our stock repurchase program," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "These increases are a direct reflection of the Board's confidence in the ability of our 8,750 Gallagher professionals to continue to drive future growth."
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in seven countries and does business in 120 countries around the world through a network of correspondent brokers and consultants. Gallagher is traded on the New York Stock Exchange under the symbol AJG.
SOURCE Arthur J. Gallagher & Co. -0- 01/18/2007 /CONTACT: Marsha J. Akin, Investor Relations of Arthur J. Gallagher & Co., +1-630-773-3800/ /Web site: http://www.ajg.com / (AJG) CO: Arthur J. Gallagher & Co. ST: Illinois IN: FIN INS SU: DIV JR-AM -- CGTH056 -- 0192 01/18/2007 19:32 EST http://www.prnewswire.com