ACE Ltd. (ACE) Thursday said it has received shareholders approval for a 4 percent increase to the company's quarterly dividend.
The dividend distribution will be in the form of a par value reduction payable in four installments of $0.51 per share. The company's par value is currently 28.43 Swiss francs per share, and will be reduced by the CHF equivalent of $0.51 based on the USD/CHF rate published on July 16.
The first dividend payment will be made in U.S. dollars on August 13, to shareholders of record at the close of business on July 23.
The amount of each installment in Swiss francs will be adjusted to equal $0.51 near the time of payment, subject to an aggregate cap for the four installments of CHF 2.88 per share.
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