W. R. Berkley Corporation (NYSE: WRB) announced that its Board of Directors has declared a regular quarterly cash dividend on its common stock of 9 cents per share to be paid on October 2, 2012 to stockholders of record at the close of business on September 12, 2012.
In addition, the Board of Directors has increased the Company’s share repurchase authorization back to its previous level of 10 million shares of common stock. The 10 million share repurchase authorization represents approximately 7 percent of the Company’s shares outstanding at June 30, 2012. Repurchases may be made from time to time at prevailing prices in the open market or in privately negotiated transactions, subject to market conditions and other factors.
Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates in five segments of the property casualty insurance business: specialty insurance, regional property casualty insurance, alternative markets, reinsurance and international.