Aon greenlights new $7.5bn share repurchase programme
Aon's board of directors has approved an additional $7.5 billion in share repurchases, taking the total authorisation to approximately $9.2 billion.
The $7.5 billion authorisation is in addition to its existing share repurchase programme, which had approximately $1.7 billion of remaining authorisation as of December 31, 2021.
Total authorisation increased to approximately $9.2 billion, before any share repurchase in the first quarter.
Aon intends to complete the existing authorisation before repurchasing shares under the new authorisation.
The board has also authorised a 10% increase to its quarterly cash dividend on its 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 (pictured), chief executive officer of Aon.
"We continue to build momentum and believe our disciplined approach to return on invested capital will result in substantial long-term shareholder value creation."
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