Summary
This Form 8-K filing by ACE Limited (now Chubb Ltd) on October 1, 2010, primarily details amendments to the company's Articles of Association related to a shareholder-approved dividend payout. This dividend is structured as a par value reduction of the company's shares, to be paid in four quarterly installments. The filing confirms the second installment, set at CHF 0.32 per share, which was determined based on the prevailing USD/CHF exchange rate at the time. These amendments were officially registered on October 1, 2010, effectively reducing the par value of ACE Limited's shares to CHF 30.89. This action is part of a pre-approved program to return capital to shareholders.
Key Highlights
- 1ACE Limited's shareholders approved a dividend payable via par value reduction of shares.
- 2The dividend is structured into four quarterly installments.
- 3The second installment of the par value reduction was fixed at CHF 0.32 per share.
- 4The CHF 0.32 amount reflects the USD/CHF exchange rate on September 28, 2010.
- 5Amendments to the Articles of Association were made on September 29 and October 1, 2010.
- 6The company's par value per share was reduced to CHF 30.89 as of October 1, 2010.
- 7The dividend scheduled for October 22, 2010, will be paid to shareholders of record on October 1, 2010.