AXIS $100M Share Repurchase Authorization

December 3, 2021 | 0 Comments

AXIS Capital announced the Company’s Board of Directors has “authorized the repurchase of up to $100 million of the Company’s common shares, which may be effected from time to time in open market or privately negotiated transactions through December 31, 2022.”

The company said it “intends to repurchase common shares opportunistically, with the timing and amount of the repurchases depending on a variety of factors, including market conditions and corporate and regulatory considerations.

“The company’s Board of Directors also has declared a quarterly dividend of $0.43 per common share, which represents an increase of 2.4%. This is the 18th consecutive year that the Company has increased its common stock dividend. The dividend is payable on January 18, 2022 to shareholders of record at the close of business on December 30, 2021.

“Additionally, the Board declared a dividend of $34.375 per Series E 5.50% Preferred Share [equivalent to $0.34375 per depositary share] which is also payable on January 18, 2022 to shareholders of record at the close of business on December 30, 2021.”

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