towers watson & co-cl a (TW) Key Developments
Towers Watson Launches New Multi-Employer Pension Fund for Belgian Market
Nov 25 15
Towers Watson & Co. has launched a new multi-employer pension fund for the Belgian market. Operating as Towers Watson LifeSight, the pension fund is designed to be flexible in a rapidly changing environment where generating additional pension income is increasingly important for retirees while cost and risk control remain high on companies' agendas. Their main challenge is to provide comfortable pension income for their employees at the same time as managing the risk of not realising the statutory minimum return, in a persistently low-interest environment.
Towers Watson Announces Regular Quarterly Dividend, Payable on or About December 15, 2015
Nov 19 15
Towers Watson & Co. announced that its Board of Directors approved a regular quarterly cash dividend of $0.15 per common share for the quarter ended September 30, 2015. The dividend is payable on or about December 15, 2015 to stockholders of record at the close of business on November 30, 2015.
Towers Watson to Pay One-Time Cash Dividend
Nov 19 15
Towers Watson & Co. announced that it has agreed to amend its previously announced merger agreement with Willis Group Holdings. Under the amended merger agreement, which has been unanimously approved by the company's Board of Directors, the one-time cash dividend to be paid to Towers Watson stockholders will be increased to $10.00 per Towers Watson share. This dividend will be paid to Towers Watson stockholders of record three days prior to the closing of the transaction.
Towers Watson Announces Executive Changes
Nov 2 15
Towers Watson announced that Susan Davies has been named controller and principal accounting officer, effective November 13, 2015. Davies will succeed Michael Thomson, who will be joining another organization in an expanded position over his current role. Davies joined the company in 2007 as director of internal audit for the Americas and was promoted to global director of internal audit in 2010, when Watson Wyatt merged with Towers Perrin to form Towers Watson. Previously, she was a senior manager/director with PricewaterhouseCoopers, where her roles included serving multinational clients in both internal and external audit over 10 years.
Towers Watson & Co. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended September 30, 2015
Nov 2 15
Towers Watson & Co. reported unaudited consolidated earnings results for the first quarter ended September 30, 2015. For the quarter, the company reported revenue of $895.621 million compared to $878.107 million a year ago. Income from operations was of $129.4 million compared to $125.998 million a year ago. Income before income taxes was $183.941 million compared to $125.564 million a year ago. Net income attributable to common stockholders was of $123.382 million or $1.78 per diluted share compared to $81.558 million or $1.16 per diluted share a year ago. Cash flows used in operating activities was $160.572 million compared to $205.182 million a year ago. Fixed assets and software for internal use was if $15.002 million compared to $15.714 million a year ago. Capitalized software costs were of $21.189 million compared to $17.9 million a year ago.