Summary
Arch Capital Group Ltd. (ACGL) filed an 8-K on November 12, 2019, to announce the declaration of dividends for its Series E and Series F non-cumulative preferred shares. The Board of Directors approved dividend payments to be made on December 31, 2019, to shareholders of record as of December 15, 2019. This filing provides important information for holders of these specific preferred equity instruments regarding their upcoming distributions.
Key Highlights
- 1Arch Capital Group Ltd. declared dividends for its Series E and Series F non-cumulative preferred shares on November 8, 2019.
- 2The dividend payment date is set for December 31, 2019.
- 3Record date for dividend entitlement is December 15, 2019.
- 4Total declared dividend for Series E shares is $5,906,250.
- 5The dividend rate for Series E shares is $0.328125 per depositary share.
- 6Total declared dividend for Series F shares is $4,496,250.
- 7The dividend rate for Series F shares is $0.340625 per depositary share.
Frequently Asked Questions
The Series E and Series F shares are non-cumulative preferred shares, with each issued as depositary shares representing a 1/1000th interest in a share, having a $25.00 liquidation preference per depositary share.
The dividends are scheduled to be paid on December 31, 2019.
Shareholders of record of the Series E and Series F shares as of December 15, 2019, will be eligible to receive the declared dividends.
These are non-cumulative preferred shares, meaning that if the company's Board of Directors does not declare a dividend for a specific period, any missed dividend is forfeited and will not be paid later. The declaration on November 8, 2019, is for a specific dividend payment and is subject to the company having lawfully available funds for payment under Bermuda law.