Summary
Arch Capital Group Ltd. (ACGL) filed an 8-K on March 4, 2013, primarily to announce the declaration of preferred share dividends. The Board of Directors declared dividends for the outstanding 13,000,000 shares of its 6.75% Non-Cumulative Preferred Shares, Series C. This filing is important for holders of the Series C Preferred Shares as it details the dividend payment schedule and amount.
Key Highlights
- 1Arch Capital Group Ltd. (ACGL) declared dividends on its Series C Non-Cumulative Preferred Shares.
- 2The dividend is for 13,000,000 shares with a liquidation preference of $25.00 per share.
- 3The declared dividend rate is 6.75% annually.
- 4The total dividend amount declared is $5,484,375.
- 5The dividend payment date is March 31, 2013.
- 6Record holders as of March 15, 2013, will receive the dividend.
- 7The dividend period covers December 31, 2012, to March 30, 2013.
Frequently Asked Questions
The primary purpose of this 8-K filing is to announce the declaration of dividends for the company's outstanding Series C Non-Cumulative Preferred Shares.
Holders of record of the Series C Shares as of March 15, 2013, are eligible to receive the declared dividends.
The total amount of dividends declared is $5,484,375, representing a rate of $0.421875 per share on 13,000,000 shares.
The dividends are payable on March 31, 2013, out of lawfully available funds under Bermuda law.