Argo Group Announces 15% Stock Dividend
Bermuda-based Argo Group International Holdings, Ltd., an international underwriter of specialty insurance and reinsurance products, announced that its Board of Directors has declared a 15% stock dividend. The stock dividend is payable on March 21, 2018, to shareholders of record at the close of business on March 7, 2018. Shareholders will receive cash in lieu of fractional shares.
In addition, the Board of Directors declared a quarterly cash dividend of $0.27 per share on the company’s common stock. The cash dividend will be paid March 23, 2018, on a post-stock dividend basis, to shareholders of record at the close of business on March 7, 2018.
As a result of the Board’s action, the outstanding shares of the Company’s common stock will increase by approximately 4.4 million shares, from 29.6 million shares outstanding to 34.0 million shares outstanding.
