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.
Frequently Asked Questions
The primary purpose of this 8-K filing is to report the official amendment to Ace Limited's Articles of Association, which implements a dividend payment to shareholders structured as a reduction in the par value of the company's shares.
The dividend will be paid in the form of a reduction in the par value of the company's shares, distributed across four quarterly installments. The first installment is set at CHF 0.33 per share.
Yes, the CHF amount for each quarterly installment is subject to adjustment to equal US$0.31 at the time of payment, based on the prevailing exchange rate. However, there is an aggregate cap on the total reduction for the four installments.
Shareholders of record at the close of business on August 10, 2009, will be eligible to receive the first installment of this dividend.