Summary
This 8-K filing by Ace Limited (Chubb Ltd) on July 28, 2009, primarily details the official amendment to the company's Articles of Association following shareholder approval at the 2009 annual general meeting. The key event is the implementation of a dividend payout structured as a par value reduction of the company's shares. This reduction is to be paid in four quarterly installments, with the initial installment fixed at CHF 0.33 (approximately US$0.31) per share, based on the prevailing exchange rate.
Key Highlights
- 1Ace Limited (formerly Chubb Ltd) filed an 8-K on July 28, 2009, reporting an amendment to its Articles of Association.
- 2The amendment formalizes a shareholder-approved dividend payable as a reduction in par value per share.
- 3The dividend will be distributed in four quarterly installments.
- 4The first quarterly installment is set at CHF 0.33 per share, aiming to be equivalent to US$0.31.
- 5The actual CHF amount for each installment may fluctuate to maintain the US$0.31 target, subject to an aggregate cap.
- 6The company's par value per share has been adjusted to CHF 32.51.
- 7Shareholders of record on August 10, 2009, will receive this dividend installment.