XL Group plc (XL) said it is authorized to buy back up to $850 million of its ordinary shares, with the prior share repurchase program, having $250 million remaining, being canceled.
Further, the company's board declared a quarterly dividend on February 21, 2013 of $0.14 per ordinary share, payable on April 1, 2013 to ordinary shareholders of record as of March 15, 2013. This action increases the quarterly dividend to $0.14 per ordinary share from $0.11 per ordinary share.
Also, XL Group reported that the board of its unit, XLIT Ltd., resolved to pay a dividend of $8.5575 per share on XLIT Ltd.'s Series D Preference Ordinary Shares, which dividend would be paid on April 15, 2013 to all shareholders of record as of April 1, 2013, as well as a dividend of $32.50 per share on XLIT Ltd.'s Series E Preference Ordinary Shares, which dividend would be paid on April 15, 2013 to all shareholders of record as of April 1, 2013.
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