The Board of Directors of ACE Limited (NYSE: ACE) today declared a quarterly dividend equal to $0.51 payable on October 21, 2013, to shareholders of record at the close of business on September 30, 2013, 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 27.95 Swiss francs (CHF) per share, and in connection with the dividend the par value per share will be reduced on the record date by the CHF equivalent of $0.51 based on the USD/CHF rate published on September 23, 2013. This will be the second of four par value reduction installments as approved by the company’s shareholders on May 16, 2013.
The ACE Group is one of the world's largest multiline property and casualty insurers. With operations in 53 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 the 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:
Cautionary Statement Regarding Forward-Looking Statements
Forward-looking statements made in this press release, such as statements regarding the dividend payment and record date, 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 company’s forward-looking statements about its dividend payment 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 and described in the company’s proxy statement dated April 5, 2013; or delay in filing or acceptance of filing of the necessary amendments to the company’s Articles of Association which makes the record date official.
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. 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.