AON Board Increases Quarterly Dividend By 11%

AON’s board of directors has approved an 11% quarterly cash dividend on the company’s outstanding Class A ordinary shares. A $0.51 per share cash dividend is to be paid on Read More... The post AON Board Increases Quarterly Dividend By 11% appeared first on TipRanks Financial Blog.

AON Board Increases Quarterly Dividend By 11%

AON’s board of directors has approved an 11% quarterly cash dividend on the company’s outstanding Class A ordinary shares. A $0.51 per share cash dividend is to be paid on May 14, 2021, to shareholders of record on May 3, 2021.

The dividend increase comes just days after the provider of professional services unveiled a new solution that will provide supply chain protection to COVID-19 vaccine shipments. The solution will provide transparent cargo insurance coverage for COVID-19 vaccines. According to AON (), the solution combines sensor data and analytics to enhance All Risk Marine Cargo insurance.

Aon’s annual dividend sits at $1.84 per share, translating into a dividend yield of 0.78%.

Similarly, the insured will receive timely payments for doses that fall outside the agreed temperature range while on transport. According to Aon’s CEO Greg Case, “We will continue to push the envelope to create innovative solutions that propel our economy and society forward. Providing supply-chain protection for the delivery of COVID-19 vaccines around the world is an important step in that process.”

All revenues generated from the new solution in 2021 will go to a charity focused on eradicating the COVID-19 human and economic toll.

Aon shares are up 14.14% year to date after a 0.7% slide in 2020. (See AON stock analysis on TipRanks)

According to Wells Fargo’s analyst Mike Mayo, “AON is positioned to show a pick up in organic revenue growth as we move through 2021 and should continue to improve its margins.”

The analyst has since reiterated a Buy rating on the stock with a price target of $275, implying 16.5% upside potential to current levels.

AON is currently rated a Moderate Buy on Wall Street, based on 3 Buys, 3 Holds, and 1 Sell. The average analyst price target of $240.33 implies 1.62% upside potential to current levels.

Aon scores 4 out of 10 on TipRanks’ Smart Score tool, suggesting its performance could align with market averages.

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