Summary
Arch Capital Group Ltd. (ACGL) filed an 8-K on March 4, 2009, to report the declaration of dividends on its Series A and Series B Non-Cumulative Preferred Shares. The company announced dividend payments for these preferred stock classes, totaling $4,000,000 for the Series A shares and $2,460,938 for the Series B shares. These dividends will be paid on May 15, 2009, to shareholders of record as of May 1, 2009. This filing provides clarity to investors regarding the company's commitment to distributing returns to its preferred shareholders amidst the then-prevailing market conditions.
Key Highlights
- 1Arch Capital Group Ltd. declared dividends for its Series A and Series B Non-Cumulative Preferred Shares.
- 2The total declared dividend for Series A shares is $4,000,000.
- 3The total declared dividend for Series B shares is $2,460,938.
- 4Dividends are payable on May 15, 2009.
- 5Record date for dividend entitlement is May 1, 2009.
- 6The dividends are declared payable out of lawfully available funds under Bermuda law.
- 7The Board of Directors retains the ability to determine dividend payment dates and amounts, subject to applicable law.
Frequently Asked Questions
The primary purpose of this 8-K filing is to formally announce the declaration of dividends by Arch Capital Group Ltd. on its Series A and Series B Non-Cumulative Preferred Shares.
The dividends are scheduled to be paid on May 15, 2009, to shareholders who are on record as of May 1, 2009.
For the Series A shares, the total declared dividend is $4,000,000, and for the Series B shares, the total declared dividend is $2,460,938.
Yes, the dividends are payable out of lawfully available funds under Bermuda law, and the Board of Directors has the discretion to determine the exact payment dates and amounts on or prior to the effective date.