Zurich, Switzerland-based insurer ACE Ltd. said it intends to pay a quarterly stock dividend of Swiss Francs (CHF) 0.30 (U.S. 27 cents at the current exchange rate) on Oct. 14 to shareholders of record as of Sept. 30.
ACE said that on July 14 the shareholders of the company approved a reduction to par value equal to an aggregate CHF 0.90 (equivalent at the time to 87 cents) to be paid in three equal quarterly installments (equivalent at the time to 29 cents).
The quarterly dividend payment announced last week will be the first of these installments. These amounts paid to U.S. shareholders may vary depending upon currency fluctuations.
Formerly a Bermuda-based company, ACE re-domesticated last month.
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