The Board of Directors of ACE Limited (NYSE: ACE) announced today that they will recommend to shareholders at the 2010 Annual General Meeting a 6.5% increase in the dollar-denominated dividend via par value reduction, to $1.32 ($0.33 per quarter), compared to $1.24 approved in 2009. The formula for determining the Swiss francs (CHF) amount for quarterly installments will be described in the company’s Proxy Statement that will be distributed in advance of the Annual General Meeting, scheduled for May 19, 2010.
The Board of Directors also declared a quarterly dividend equal to $0.31 payable on April 12, 2010, to shareholders of record at the close of business on March 31, 2010, subject to a required filing with the Swiss Commercial Register. Dividend payments will be made in U.S. dollars (USD) by the company’s transfer agent. The company’s par value is currently CHF 31.88 per share, and in connection with this dividend installment, the par value per share will be reduced on the record date by the CHF equivalent of $0.31 based on the USD/CHF rate published on March 26, 2010. This will be the fourth of four par value reduction installments as approved by the company’s shareholders on May 20, 2009.
Celebrating 25 years of insuring progress, the ACE Group is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE), the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: www.acelimited.com.