ACE Limited Board Will Recommend 4.25% Dividend Increase to Shareholders at 2012 Annual General Meeting
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.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.