Itasca, Ill.-based insurance broker Arthur J. Gallagher &Co. said it would increase its dividend payment by one cent andnamed Norman L. Rosenthal to its board of directors.

Gallagher said the quarterly cash dividend on the company'scommon stock was increased to 32 cents per share. The dividend willbe payable on April 15 to shareholders of record as of March31.

Mr. Rosenthal is currently president of Norman L. Rosenthal& Associates Inc., a management consulting firm thatspecializes in the property-casualty insurance industry. From 1981to 1996, he was a managing director and senior equity researchanalyst at Morgan Stanley & Co. where he followed the p-cinsurance industry.

Gallagher also announced that its board reauthorized its stockrepurchase plan. The plan, originally adopted on May 10, 1988, nowauthorizes the repurchase of up to 10 million shares.

According to a Securities and Exchange Commission filing, as ofSept. 30, 2007 the company was reauthorized to repurchaseapproximately 5.4 million shares. At that time the company reportedit repurchased seven million shares for more than $204 million.