Axis Capital to Repurchase $750 Million Shares
Bermuda-based AXIS Capital Holdings Limited today [Sept 24] announced that the Company’s Board of Directors has authorized the Company to repurchase up to an additional $750 million of the Company’s common shares.
This new repurchase authorization is in addition to the $121 million available as of September 23, 2010 under the Board’s previous share repurchase authorization. The Board has authorized the Company to effect repurchases under the new plan and the previous plan from time to time in open market or privately negotiated transactions through December 31, 2012, depending on market conditions.
The Company’s Board of Directors has declared a quarterly dividend of $0.21 per common share. The common dividend will be payable on October 15, 2010 to the shareholders of record at the close of business on September 30, 2010.
