ACE Board Recommends 22nd Consecutive Annual Dividend Increase, Declares First Quarter 2015 Dividend
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 USDCHF 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.
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