ZURICH--(BUSINESS WIRE)--
The Board of Directors of ACE Limited (NYSE: ACE) announced today that
it will recommend for shareholder approval an increase in the company’s
annual dividend for the twenty-second consecutive year. The proposal for
the 2015 Annual General Meeting calls for a $0.08 increase in ACE’s
annual dividend to $2.68 per share, to be paid in quarterly installments
of $0.67 per share, compared to the current quarterly dividend amount of
$0.65 per share. With the 2015 increase, the company’s dividend will
have more than doubled in the past five years. The company’s Proxy
Statement that will be distributed in advance of the May 21, 2015,
Annual General Meeting will describe the methodology for declaring and
paying the quarterly installments.
The Board of Directors also declared a quarterly dividend equal to $0.65
per share payable on April 21, 2015, to shareholders of record at the
close of business on March 31, 2015, subject to a required filing with
the Swiss Commercial Register. Dividend payments will be made in United
States dollars (USD) by the company’s transfer agent. The company’s par
value is currently 24.77 Swiss francs (CHF) per share and, in connection
with this dividend installment, the par value per share will be reduced
on the record date by the CHF equivalent of $0.65 based on the USD/CHF
rate published on March 24, 2015. This will be the fourth of four par
value reduction installments as approved by the company’s shareholders
on May 15, 2014.
About ACE Group
ACE Group is one of the world’s largest multiline property and casualty
insurers. With operations in 54 countries, ACE provides commercial and
personal property and casualty insurance, personal accident and
supplemental health insurance, reinsurance and life insurance to a
diverse group of clients. ACE Limited, the parent company of ACE Group,
is listed on the New York Stock Exchange (NYSE: ACE) and is a component
of the S&P 500 index. Additional information can be found at: www.acegroup.com.
Cautionary Statement Regarding
Forward-Looking Statements:
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 as
set forth in these statements. For example, the record date for the
first quarter dividend could be affected by delay in filing or
acceptance of filing of the necessary amendments to the company’s
Articles of Association which makes the record date official. Also,
future dividends are subject to shareholder approval of proposed amounts
and methodology. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the
date on which they are made.
Source: ACE Limited