Argo Group Announces a 10% Stock Dividend & an Increase of Its Regular Quarterly Cash Dividend to $0.20 Per Share – a 22.2%...
February 17 2015 - 4:40PM
Business Wire
Argo Group International Holdings, Ltd. (NASDAQ: AGII), an
international underwriter of specialty insurance and reinsurance
products, announced today its Board of Directors has declared a 10%
stock dividend. The stock dividend is payable on March 16, 2015, to
shareholders of record at the close of business on March 2, 2015.
Shareholders will receive cash in lieu of fractional shares.
In addition, the Board of Directors declared a quarterly cash
dividend of $0.20 per share on the company's common stock, compared
to $0.18 per share in the previous quarter. The cash dividend will
be paid on March 19, 2015, on a post-stock dividend basis, to
shareholders of record at the close of business on March 2,
2015.
Including the effect of the stock dividend, the $0.20 per share
cash dividend reflects a 22.2% increase to the amount declared in
previous quarters.
As a result of the Board's action, the outstanding shares of the
Company's common stock will increase by approximately 2.6 million
shares, from 25.5 million shares outstanding to 28.1 million shares
outstanding.
ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
Argo Group International Holdings, Ltd. (NASDAQ: AGII) is an
international underwriter of specialty insurance and reinsurance
products in the property and casualty market. Argo Group offers a
full line of products and services designed to meet the unique
coverage and claims handling needs of businesses in four primary
segments: Excess & Surplus Lines, Commercial Specialty,
International Specialty and Syndicate 1200. Argo Group's insurance
subsidiaries are A. M. Best-rated 'A' (Excellent) (third highest
rating out of 16 rating classifications) with a stable outlook, and
Argo's U.S. insurance subsidiaries are Standard and Poor's-rated
'A-' (Strong) with a stable outlook. More information on Argo Group
and its subsidiaries is available at www.argolimited.com.
FORWARD-LOOKING STATEMENTS
This press release contains certain statements that are
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, as amended. Such statements are qualified by
the inherent risks and uncertainties surrounding future
expectations generally and also may differ materially from actual
future experience involving any one or more of such statements. For
a more detailed discussion of such risks and uncertainties, see
Argo Group's filings with the SEC. The inclusion of a
forward-looking statement herein should not be regarded as a
representation by Argo Group that Argo Group's objectives will be
achieved. Argo Group undertakes no obligation to publicly update
forward-looking statements, whether as a result of new information,
future events or otherwise.
Argo Group International Holdings, Ltd.Susan Spivak Bernstein,
212-607-8835Senior Vice President, Investor Relations
Argo (NYSE:ARGO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Argo (NYSE:ARGO)
Historical Stock Chart
From Apr 2023 to Apr 2024