Summary
Arch Capital Group Ltd. (ACGL) announced on November 3, 2022, through an 8-K filing, the declaration of dividends for its Series F and Series G Non-Cumulative Preferred Shares. This action is primarily informational, confirming the payment of regular dividends to preferred shareholders, rather than a material event impacting the company's overall financial performance or strategic direction at this time. Investors should note that these are routine dividend declarations for outstanding preferred stock.
Key Highlights
- 1ACGL declared dividends on its 5.45% Non-Cumulative Preferred Shares, Series F.
- 2ACGL declared dividends on its 4.55% Non-Cumulative Preferred Shares, Series G.
- 3Dividends for both Series F and Series G shares are payable on December 31, 2022.
- 4The record date for dividend entitlement for both series is December 15, 2022.
- 5The Series F preferred shares have a liquidation preference of $25.00 per depositary share.
- 6The Series G preferred shares have a liquidation preference of $25.00 per depositary share.
- 7Dividend payments are subject to availability of lawfully available funds under Bermuda law.
Frequently Asked Questions
The main purpose of this 8-K filing is to formally announce that Arch Capital Group Ltd.'s Board of Directors has declared dividends for its outstanding Series F and Series G Non-Cumulative Preferred Shares.
Dividends for both the Series F and Series G preferred shares are scheduled to be paid on December 31, 2022.
Shareholders of record for the Series F and Series G preferred shares as of December 15, 2022, are eligible to receive the declared dividends.
The filing specifies that both the Series F and Series G preferred shares are 'Non-Cumulative'.