8-KOther Events

ARCH CAPITAL GROUP LTD. 8-K Report, Corporate Update (Nov 6, 2020)

Filed November 6, 2020For Securities:ACGLACGLNACGLO

Summary

Arch Capital Group Ltd. (ACGL) announced on November 5, 2020, through its Board of Directors, the declaration of dividends for its Series E and Series F Non-Cumulative Preferred Shares. These declarations are a routine event, indicating the company's ongoing commitment to its preferred shareholders and its financial capacity to meet these obligations. Investors should note that these dividends are declared and payable in accordance with Bermuda law and company governance. The declaration comes in the context of the company's financial operations and is a key indicator of its financial health and capital management strategy. The specific details include dividends for 18,000,000 depositary shares of Series E and 13,200,000 depositary shares of Series F. The dividend for Series E shares amounts to $0.328125 per share, and for Series F shares, it is $0.340625 per share. Both dividend payments are scheduled to be made on December 31, 2020, to shareholders of record as of December 15, 2020, provided sufficient funds are available under Bermuda law. This proactive declaration reassures investors about the consistency of income from these preferred securities.

Key Highlights

  • 1Arch Capital Group Ltd. (ACGL) declared dividends for its Series E and Series F Non-Cumulative Preferred Shares on November 5, 2020.
  • 2The Series E Preferred Shares dividend is $0.328125 per depositary share.
  • 3The Series F Preferred Shares dividend is $0.340625 per depositary share.
  • 4Both dividend payments are scheduled for December 31, 2020.
  • 5Record date for dividend entitlement is December 15, 2020, for both Series E and Series F Preferred Shares.
  • 6Dividends are payable out of lawfully available funds under Bermuda law.
  • 7The Board of Directors retains the ability to alter the dividend payment date or terms.

Frequently Asked Questions

For Series E Preferred Shares, the total declared dividend amount is $5,906,250. For Series F Preferred Shares, the total declared dividend amount is $4,496,250. These amounts are based on the outstanding number of depositary shares and the rate per share.

The dividends for both Series E and Series F Preferred Shares are scheduled to be paid on December 31, 2020.

Shareholders of record of the Series E and Series F Preferred Shares as of December 15, 2020, are eligible to receive these dividends, provided funds are lawfully available for payment.

The dividends are declared by the Board of Directors and are payable out of lawfully available funds under Bermuda law. While this declaration indicates the company's intent and financial position at the time, the final payment is contingent on sufficient available funds and adherence to Bermuda law.