By Denny Jacob

Professional services firm Aon plc said its board authorized an additional $7.5 billion in share repurchases.

The program had $1.7 billion of remaining authorization as of Dec. 31, 2021. Total authorization increased to $9.2 billion before any share repurchase in the first quarter. Aon said it intends to complete the existing authorization before repurchasing shares under the new authorization.

The company also raised its quarterly cash dividend by 10% to 56 cents a share.

"We continue to build momentum and believe our disciplined approach to return on invested capital will result in substantial long-term shareholder value creation," Chief Executive Greg Case said in prepared remarks.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

February 18, 2022 17:03 ET (22:03 GMT)

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