AXIS Capital Declares Dividend
Bermuda’s AXIS Capital Holdings Limited yesterday [Dec.8] announced the company’s board of directors had declared a quarterly dividend of $0.24 per common share.
The common dividend will be payable on January 17, 2012 to the shareholders of record at the close of business on December 30, 2011.
In addition, the board declared a dividend of $0.453125 per Series A 7.25% Preferred Share and a dividend of $1.875 per Series B 7.5% Preferred Share.
The Series A Preferred Share dividend is payable on January 17, 2012 to shareholders of record at the close of business on December 30, 2011 and the Series B Preferred Share dividend is payable on March 1, 2012 to shareholders of record at the close of business on February 15, 2012.
John Charman, CEO and president of AXIS Capital, said: “AXIS Capital has a track record of generating significant value for shareholders over the long term.
“An important component of this value creation has been the return of capital to shareholders in the form of share repurchases and a growing stream of common dividends.
“We are pleased to announce this eighth annual increase in AXIS Capital’s common share dividend since we began paying dividends with our initial public offering in 2003.”
AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at September 30, 2011 of $5.4 billion and locations in Bermuda, the United States, Europe, Singapore, Canada and Australia.
Its operating subsidiaries have been assigned a rating of A+ [Strong] with a stable outlook by Standard & Poor’s and A [Excellent] with a positive outlook by A.M. Best.
