AXIS Increases Dividend Payment
NU Online News Service, March 14, 4 :53 p.m. EST?AXIS Capital Holdings Limited said its board of directors has increased its quarterly dividend payment by 20 percent.[@@]
AXIS, based in Pembroke, Bermuda, said it would make a 15 cents per common share payment on April 14 to shareholders of record as of March 31.
The board also approved the additional repurchase of up to $150 million of common shares authorized under the company's share repurchase plan. AXIS Capital recently completed a $350 million share repurchase from two of its founding shareholders.
The repurchase from founding shareholders exhausted the share repurchase plan authorized by the board in 2004. The share repurchase plan is currently authorized to continue until December 2006.
Late last week, Marsh & McLennan Risk Capital said it would sell 3.7 million shares of AXIS.
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