BFW 11/24 13:24 *ACE LIMITED BOARD AUTHORIZES $1.5B SHARE BUYBACK IN ’15
BN 11/24 13:24 *ACE LIMITED BOARD AUTHORIZES $1.5B SHARE BUYBACK IN '15
BN 11/24 13:24 *ACE LIMITED BOARD DECLARES QTRLY DIV AUTHORIZES $1.5B SHARE
BN 11/24 13:24 *ACE LIMITED BOARD DECLARES QTRLY DIV AUTHORIZES $1.5B SHR
BN 11/24 13:24 *ACE LIMITED BOARD AUTHORIZES $1.5B SHARE BUYBACK IN '15
BN 11/24 13:24 *ACE LIMITED BOARD DECLARES QTRLY DIV AUTHORIZES $1.5B SHARE
BN 11/24 13:24 *ACE LIMITED BOARD DECLARES QTRLY DIV AUTHORIZES $1.5B SHR
ACE Limited Board Declares Quarterly Dividend, Authorizes $1.5 Billion Share Repurchase in 2015
2014-11-24 13:24:00.111 GMT
ACE Limited Board Declares Quarterly Dividend, Authorizes $1.5 Billion Share
Repurchase in 2015
Business Wire
ZURICH -- November 24, 2014
The Board of Directors of ACE Limited (NYSE: ACE) today declared a quarterly
dividend equal to $0.65 payable on January 5, 2015, to shareholders of record
at the close of business on December 17, 2014, 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, currently 25.40 Swiss francs (CHF) per share, will be
reduced in connection with the dividend on the record date by the CHF
equivalent of $0.65 based on the USD/CHF rate published on December 10, 2014.
This will be the third of four par value reduction installments as approved by
the company’s shareholders on May 15, 2014.
The board also announced authorization of a share repurchase of $1.5
billion for calendar year 2015 to replace the current authorization when it
expires December 31, 2014.
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 dividends and record date, and share repurchases, 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, statements about the dividend payment could be affected by any delay
in filing or acceptance of the Swiss Commercial Register filing; and market
and company conditions might lead to a lower volume of share repurchases than
targeted, and expiration of share repurchase authorization without the entire
authorized amount being repurchased. 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.
Contact:
ACE Limited
Investor Contact:
Helen M. Wilson, 441-299-9283
helen.wilson@acegroup.com
or
Media Contact:
Jeffrey Zack, 212-827-4444
jeffrey.zack@acegroup.com
-0- Nov/24/2014 13:24 GMT
2014-11-24 13:24:00.111 GMT
ACE Limited Board Declares Quarterly Dividend, Authorizes $1.5 Billion Share
Repurchase in 2015
Business Wire
ZURICH -- November 24, 2014
The Board of Directors of ACE Limited (NYSE: ACE) today declared a quarterly
dividend equal to $0.65 payable on January 5, 2015, to shareholders of record
at the close of business on December 17, 2014, 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, currently 25.40 Swiss francs (CHF) per share, will be
reduced in connection with the dividend on the record date by the CHF
equivalent of $0.65 based on the USD/CHF rate published on December 10, 2014.
This will be the third of four par value reduction installments as approved by
the company’s shareholders on May 15, 2014.
The board also announced authorization of a share repurchase of $1.5
billion for calendar year 2015 to replace the current authorization when it
expires December 31, 2014.
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 dividends and record date, and share repurchases, 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, statements about the dividend payment could be affected by any delay
in filing or acceptance of the Swiss Commercial Register filing; and market
and company conditions might lead to a lower volume of share repurchases than
targeted, and expiration of share repurchase authorization without the entire
authorized amount being repurchased. 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.
Contact:
ACE Limited
Investor Contact:
Helen M. Wilson, 441-299-9283
helen.wilson@acegroup.com
or
Media Contact:
Jeffrey Zack, 212-827-4444
jeffrey.zack@acegroup.com
-0- Nov/24/2014 13:24 GMT