Aon Announces Additional $7.5 Billion Share Repurchase Authorization and 10% Increase to Quarterly Cash Dividend
DUBLIN, February 18, 2022 /PRNewswire/ — Aon plc (NYSE: AON), a leading global professional services firm, today announced that the Board of Directors has authorized a new $7.5 billion in share buybacks. This is in addition to Aon’s existing share buyback program, which consisted of approximately $1.7 billion authorization remaining at December 31, 2021. Total authorization increased to approx. $9.2 billion, before any share buybacks in the first quarter. Aon intends to complete the existing authorization before proceeding with the repurchase of shares under the new authorization.
The Board of Directors also authorized a 10% increase in its quarterly cash dividend on the outstanding Class A common shares of Aon to $0.56 per share.
“Today’s announcement reinforces our belief in our Aon United strategy, our strong outlook for free cash flow generation and our continued focus on maximizing total shareholder return,” said Greg case, Chief Executive Officer. “We continue to build momentum and believe our disciplined approach to return on investment will translate into significant long-term shareholder value creation.”
Including the new authorization, up to $9.2 billion, prior to any share buybacks during the first quarter, Class A common stock of Aon may be purchased from time to time on the open market, in block transactions, in OTC by mutual agreement, pursuant to the plans in Rule 10b5-1 or otherwise, depending on market conditions or other factors. The program does not obligate Aon to purchase any particular amount of shares and may be suspended or terminated at any time.
Aon plc (NYSE: AON) exists to shape decisions for the better – to protect and enrich the lives of people around the world. Our colleagues provide our clients in more than 120 countries with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business.
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Any or all of Aon’s forward-looking statements may prove to be inaccurate and there is no guarantee as to Aon’s performance. The factors identified above are not exhaustive. Aon and its subsidiaries operate in a dynamic business environment in which new risks may arise frequently. Accordingly, you should not place undue reliance on forward-looking statements, which speak only as of the date they are made. In addition, the results of completed exercises December 31, 2020 and 2021 are not necessarily indicative of the results that may be expected for any future period, particularly in light of the continuing effects of the COVID-19 pandemic. Additional information regarding Aon and its business, including factors that could materially affect Aon’s financial results, can be found in Aon’s filings with the SEC. View Aon Annual Report on Form 10-K for the fiscal year ended December 31, 2021 for a more in-depth discussion of these and other risks and uncertainties applicable to Aon and its business. These factors may be revised or supplemented in subsequent reports filed with the SEC. Aon is under no obligation to update or change any forward-looking statements it may make from time to time, and expressly disclaims any obligation, whether as a result of new information, future events or otherwise.