ACE Limited Declares Quarterly Dividend.ZURICH, Switzerland Switzerland (swĭt`sərlənd), Fr. Suisse, Ger. Schweiz, Ital. Svizzera, officially Swiss Confederation, federal republic (2005 est. pop. 7,489,000), 15,941 sq mi (41,287 sq km), central Europe. -- The Board of Directors of ACE Limited (NYSE NYSE See: New York Stock Exchange :ACE) today declared a quarterly dividend of 0.30 Swiss Francs Noun 1. Swiss franc - the basic unit of money in Switzerland franc - the basic monetary unit in many countries; equal to 100 centimes centime - a fractional monetary unit of several countries: France and Algeria and Belgium and Burkina Faso and Burundi and (CHF CHF In currencies, this is the abbreviation for the Swiss Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) per common share, payable on January 12, 2009, to shareholders of record at the close of business on December 17, 2008, subject to a required filing with the Swiss Commercial Register. Dividend payments will be made by the company's transfer agent in U.S. Dollars (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) converted at the USD/CHF exchange rate shortly before the payment date. The CHF 0.30 dividend would be equivalent to USD 0.24 per common share based on the exchange rate as of November 19, 2008. Due to potential currency translation movements, the USD amount shareholders will actually receive may be more or less than the amount stated above. On July 14, 2008, the shareholders of the company approved a reduction to par value equal to CHF 0.90 per common share in the aggregate (equivalent at the time to USD 0.87 per common share), to be paid in three equal quarterly installments of CHF 0.30 (each equivalent at the time to USD 0.29 per common share). The quarterly dividend described above will be the second of these installments. The company's par value is currently CHF 33.44 per share, and following this reduction the par value per share will be CHF 33.14. It is the company's intention to recommend to the shareholders each year the payment of dividends based on USD amounts that the company and the Board of Directors believe to be appropriate. Pursuant to the current shareholder approval, quarterly payments may vary in USD based on relative currency movements, while the CHF 0.30 amount is fixed. The ACE Group of Companies is a global leader in insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. serving a diverse group of clients. Headed by ACE Limited, the ACE Group of Companies conducts its business on a worldwide basis with operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. in more than 50 countries. Additional information can be found at: www.acelimited.com. |
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