Willis Group Q4 Results Top Estimates

(RTTNews) - Willis Group Holdings plc (WSH) reported net income for the fourth quarter of $76 million or $0.42 per share, compared to $68 million or $0.37 per share for the year-ago quarter.

Excluding items, underlying earnings per share were $0.46 in the fourth quarter, compared to $0.39 in the prior year quarter.

Total reported commissions and fees increased 3.1% to $939 million in the fourth quarter from $911 million in the fourth quarter of 2013.

Total revenue for the fourth quarter rose to $958 million from $919 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.45 per share on revenue of $956.88 million for the fourth quarter. Analysts' estimates typically exclude special items.

At its February meeting, the company's Board of Directors approved a 3.3% increase in the regular quarterly cash dividend from $0.30 per share to $0.31 per share. The dividend is payable on April 15 to shareholders of record at March 31.

Willis said it plans to buy back approximately $175 million in shares in 2015 to offset the increase in shares outstanding resulting from the exercise of employee stock options.