ZURICH, Feb. 27, 2020 /PRNewswire/ -- The Board of Directors of Chubb Limited (NYSE: CB) announced today that it will recommend to shareholders at the company's 2020 Annual General Meeting an increase in its quarterly dividend for the twenty-seventh consecutive year. The proposal calls for a $3.12 annual per share dividend, payable in four quarterly installments of $0.78 per share, compared to the current quarterly dividend amount of $0.75 per share.
The Board also declared a quarterly dividend equal to $0.75 per share, payable on April 10, 2020 to shareholders of record at the close of business on March 20, 2020. The dividend will be payable out of legal reserves and will be made in United States dollars by the company's transfer agent as described in the Chubb Limited 2019 proxy statement. This will be the fourth installment as approved by the company's shareholders on May 16, 2019.
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs more than 30,000 people worldwide. Additional information can be found at: www.chubb.com.
Cautionary Statement Regarding Forward-Looking Statements:
Forward-looking statements made in this press release, such as statements regarding the company's 2020 Annual General Meeting and dividends, reflect the company's current views with respect to future events and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause actual results to differ materially as set forth in these statements. For example, payment of scheduled dividends could be affected by extraordinary company events or capital constraints or similar factors that could require the company to adjust, delay or withhold dividend payments. Additional information regarding factors that could cause differences from these forward-looking statements appears in the company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made.
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SOURCE Chubb Limited