Summary
Arch Capital Group Ltd. (ACGL) filed an 8-K on September 4, 2014, to announce a dividend declaration for its Series C Preferred Shares. The Board of Directors declared a dividend of $0.421875 per share for the 13,000,000 outstanding Series C shares. This dividend, totaling $5,484,375, will be paid on September 30, 2014, to shareholders of record as of September 15, 2014. The dividend covers the period from June 30, 2014, to September 29, 2014, and represents a rate of 6.75% annually on the $25.00 liquidation preference per share. This announcement provides important information for preferred shareholders regarding their expected income distribution.
Key Highlights
- 1Declaration of dividend for Arch Capital Group Ltd.'s Series C Preferred Shares.
- 2Dividend amount declared is $0.421875 per share.
- 3Total dividend payout amounts to $5,484,375.
- 4The dividend is payable to holders of record on September 15, 2014.
- 5Payment date for the dividend is September 30, 2014.
- 6The dividend covers the period from June 30, 2014, to September 29, 2014.
- 7The dividend is consistent with the 6.75% Non-Cumulative rate on the $25.00 liquidation preference per share.
Frequently Asked Questions
The dividend is for the outstanding 13,000,000 shares of Arch Capital Group Ltd.'s 6.75% Non-Cumulative Preferred Shares, Series C, with a liquidation preference of $25.00 per share.
The dividend is scheduled to be paid on September 30, 2014.
Shareholders who are holders of record of the Series C Shares as of September 15, 2014, are eligible to receive the dividend.
The total dividend payout for the Series C Preferred Shares is $5,484,375, which equates to $0.421875 per share.