Summary
This 8-K filing from ACE Limited (now Chubb Ltd) on July 31, 2012, primarily details the implementation of a shareholder-approved dividend in the form of a par value reduction. This dividend is to be paid in four quarterly installments, with the first installment being CHF 0.48 per share, equivalent to $0.49 at the time of the annual general meeting. The company formally adjusted its Articles of Association to reflect this par value reduction, which became effective upon registration in the Swiss commercial register on July 31, 2012. Shareholders of record on July 31, 2012, are set to receive this initial dividend payment on August 21, 2012.
Key Highlights
- 1ACE Limited (now Chubb Ltd) filed an 8-K on July 31, 2012, regarding amendments to its Articles of Association.
- 2Shareholder approval was obtained at the 2012 annual general meeting for a dividend via par value reduction.
- 3The dividend is structured as four quarterly installments.
- 4The first installment of the par value reduction was fixed at CHF 0.48 per share.
- 5This initial reduction is equivalent to $0.49 per share, based on the exchange rate at the time of the annual general meeting.
- 6The company's Articles of Association were amended and restated, effective July 31, 2012, to reflect this par value reduction.
- 7Shareholders of record on July 31, 2012, will receive the dividend payment on August 21, 2012.