logo
Share SHARE
FONT-SIZE Plus   Neg

XL Group Board Approves $1 Bln Share Buyback, Hikes Dividend - Quick Facts

XL Group Ltd (XL) said its board of directors has approved a new share buyback program, authorizing the company to buy back up to $1 billion of its common shares. The previous share buyback program, which had approximately $349 million remaining, was canceled.

The company expects the purchases to be made from time to time in the open market or in privately negotiated transactions, and that such purchases are expected to be funded from cash on hand. The buyback program may be modified, extended or terminated by the Board at any time.

In addition, XL Group said that the Board declared a quarterly dividend on February 16, 2017 of $0.22 per common share payable on the company's common shares. This action increases the quarterly dividend to $0.22 per common share from $0.20 per common share.

The dividend will be payable on March 31, 2017 to common shareholders of record as of March 15, 2017.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A search has been launched for a dog that was placed aboard a wrong WestJet flight and ended up in Hamilton. The labradoodle named Cooper was mistakenly put on a flight to Hamilton and got off its leash in the Ontario city after it was taken out of its kennel by airline staff for a walk. Network management services provider Real Matters Inc. has filed preliminary prospectus for initial public offering in Canada. The filing is done with Ontario Securities Commission. According to Bloomberg, the Canadian real estate data firm is planning to raise around C$125 million or $96 million. Struggling women's apparel retailer Bebe Stores Inc. will close all its stores by the end of May 2017. In a filing with the Securities and Exchange Commission on Friday, Brisbane, California-based Bebe said it expects to incur an impairment charge of about $20 million as a result of the store closures.
comments powered by Disqus
RELATED NEWS
Trade XL now with 
Follow RTT