ACE Limited : Board Will Recommend 4.25% Dividend Increase to Shareholders at 2012 Annual General Meeting; Declares First Quarter Dividend
02/23/2012| 10:20am US/Eastern
The Board of Directors of ACE Limited (NYSE: ACE) announced today that
it will recommend to shareholders at the company's 2012 Annual General
Meeting a 4.25% increase in its quarterly dividend. The proposal calls
for a $1.96 annual dividend, payable in four installments of $0.49 per
quarter, commencing with the second quarter, as and when declared by the
Board, compared to the most recent quarterly dividend amount of $0.47.
The formula for determining the Swiss francs amount for quarterly
installments will be described in the company's Proxy Statement that
will be distributed in advance of the Annual General Meeting, scheduled
for May 16, 2012.
The Board of Directors also declared a quarterly dividend equal to $0.47
payable on April 20, 2012, to shareholders of record at the close of
business on March 30, 2012. This dividend payment will be made in United
States dollars by the company's transfer agent. This will be the fourth
installment as approved by the company's shareholders on May 18, 2011,
which was amended to increase the quarterly amount to $0.47 by a
shareholder vote on January 9, 2012.
The ACE Group is a global leader in insurance and reinsurance serving a
diverse group of clients. Headed by ACE Limited (NYSE: ACE), a component
of the S&P 500 stock index, the ACE Group conducts its business on a
worldwide basis with operating subsidiaries in more than 50 countries.
Additional information can be found at: www.acegroup.com.
Cautionary Statement Regarding
Forward-looking statements made in this press release, such as
statements regarding ACE's Annual General Meeting and dividends, reflect
the company's current views with respect to future events and are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such statements involve risks and
uncertainties, which may cause actual results to differ materially from
those set forth in these statements. For example, the dividend increase
is subject to shareholder approval and the actual amount of dividends
could be affected by extraordinary currency fluctuations leading to
reduction in the USD value of the dividend pursuant to the dividend cap
approved by the company's shareholders. Readers are cautioned not
to place undue reliance on these forward-looking statements, which speak
only as of the dates on which they are made. The company undertakes no
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. This
press release is not a solicitation of a proxy and is not a substitute
for any proxy statement or other filing that may be required to be made
with the Securities and Exchange Commission in connection with the
Annual General Meeting.
Helen M. Wilson, 441-299-9283
Stephen M. Wasdick, 212-827-4444
© Business Wire 2012