Summary
Arch Capital Group Ltd. (ACGL) filed a Form 8-K on February 26, 2021, primarily to announce dividend declarations for its Series E and Series F Non-Cumulative Preferred Shares. The Board of Directors declared dividends totaling $5,906,250 for the Series E shares and $4,496,250 for the Series F shares. These dividends are payable on March 31, 2021, to shareholders of record as of March 15, 2021, subject to available funds under Bermuda law and potential Board or Executive Committee decisions. For investors holding these preferred shares, the key takeaway is the confirmation of regular dividend payments. The Series E shares will receive a dividend of $0.328125 per depositary share, representing a 5.25% annual rate, while Series F shares will receive $0.340625 per depositary share, representing a 5.45% annual rate. These declarations provide clarity on income generation for preferred shareholders and reflect the company's continued ability to meet its dividend obligations.
Key Highlights
- 1ACGL declared dividends for its Series E Non-Cumulative Preferred Shares.
- 2ACGL declared dividends for its Series F Non-Cumulative Preferred Shares.
- 3The total dividend declared for Series E shares is $5,906,250.
- 4The total dividend declared for Series F shares is $4,496,250.
- 5Dividends are payable on March 31, 2021.
- 6Record date for both series of preferred shares is March 15, 2021.
- 7Dividend payments are subject to lawful funds availability under Bermuda law and Board discretion.