ZURICH--(BUSINESS WIRE)--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:
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.