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Willis Towers Watson Raises Dividend After Strong Q3 Results

Willis Towers Watson Public Ltd. Co. (WLTW) is a leading global advisory, brokering and solutions company that helps clients manage risk, optimize benefits, cultivate talent and deploy capital. With more than 45,000 employees, the company serves clients across more than 140 countries.

The company generates most of its revenue from its Human Capital & Benefits and Corporate Risk & Brokering segments, which account for 40% and 32% of revenue, respectively. That said, the company’s Benefits Delivery & Administration is the fastest-growing segment, with a 26% increase in revenue during the third quarter.

Resilience During COVID-19

Willis Towers Watson reported strong third-quarter financial results despite the uncertainty surrounding the COVID-19 pandemic. While some discretionary project-based businesses saw reduced demand, the company has not seen a material impact on overall results.

Revenue rose by 0.5% to $2 billion, beating consensus estimates by $10 million, while non-GAAP earnings hit $1.33 per share, beating consensus estimates by three cents per share. Cash flow from operating activities during the nine months ended September 30, 2020, were up by 95% to $1.2 billion, while free cash flow over the same period was up by 130% to $1 billion.

The company hiked its dividend by 4.4% to 71 cents per share following the strong financial results, which represents a 1.37% forward yield. The dividend is payable to shareholders on January 15, 2021, who are on record as of December 31, 2020.

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