Summary
This 8-K filing from Arch Capital Group Ltd. (ACGL) dated November 9, 2007, primarily announces the declaration of dividends on its outstanding Series A and Series B Non-Cumulative Preferred Shares. The Board of Directors has approved dividend payments to be disbursed on February 15, 2008, to shareholders of record as of February 1, 2008. This action indicates ongoing financial health and a commitment to returning value to preferred shareholders. Investors in ACGL's preferred shares should note the specific dividend amounts and payment dates. The filing details two separate dividend payments for each series, covering different periods, and provides the respective rates per share and total amounts. This information is crucial for preferred shareholders to track their expected income and for potential investors to evaluate the income-generating potential of these securities.
Key Highlights
- 1Arch Capital Group Ltd. declared dividends on its Series A and Series B Non-Cumulative Preferred Shares.
- 2The dividend payments are scheduled to be made on February 15, 2008.
- 3Record date for dividend entitlement is February 1, 2008.
- 4The Series A Preferred Shares will receive a total dividend of $4,000,000, equivalent to $0.50 per share.
- 5The Series B Preferred Shares will receive a total dividend of $2,460,938, equivalent to $0.4922 per share.
- 6Dividends are payable out of lawfully available funds under Bermuda law.
- 7The Board of Directors retains the ability to determine dividend payment terms on or prior to the effective dates.