NU Online News Service, March 12, 1:16 p.m. EST
Swiss Re, which returned to profitability last year with 2009 net income of $468 million, said it planned to increase its dividend tenfold.
The company said the proposed dividend to be approved at its annual shareholder meeting April 7 in Zurich, Switzerland would amount to 1 Swiss franc (U.S. 94 cents) per share compared to 10 centimes (9 cents at current exchange rates).
Its dividend increase proposal "reflects the improved captial base and profitability of the company," Swiss Re said.In 2008 the company posted an $800 million loss.
