Broking group now authorised to repurchase up to $6.1bn of its own shares
Aon has launched a new $5bn (£3.2bn) share buy-back programme.
This, combined with the $1.1bn it has left under its existing scheme, means the broker now has the ability to buy back up to $6.1bn-worth of its own stock.
Aon set up its existing scheme in April 2012. It was also for $5bn, which means the broker has bought back $3.9bn of its own stock since setting up the scheme.
The company intends to use up the remainder of its existing scheme before tapping into the new one.
Aon chief executive Greg Case said: “Today’s announcement continues to demonstrate our belief in the underlying strength of the firm, strong free cash flow generation outlook and our continued focus on maximising total return for shareholders.”
“We have returned a record amount of capital to shareholders through the first nine months of 2014, highlighted by the repurchase of 20.4 million shares, equivalent to 7% of actual shares outstanding as of September 30, 2014, for a total of $1.75bn.”
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