ZURICH, May 18, 2017 /PRNewswire/ -- The Board of Directors of Chubb Limited (NYSE: CB) announced today its shareholders have approved all matters submitted to the Chubb Limited 2017 Annual General Meeting, held at the company's offices in Zurich, Switzerland. Shareholders approved a 3% increase in the company's dividend to $2.84 per share annually ($0.71 per quarter) from $2.76 per share ($0.69 per quarter). This marks the 24th consecutive annual increase in the company's dividend.
The dividend will be payable out of legal reserves in four quarterly installments and will be made in U.S. dollars by the company's transfer agent, as described in the Chubb Limited proxy statement. The company's Board of Directors declared that shareholders of record at the close of business on June 30, 2017, will be entitled to payment of the first installment of $0.71 per share on July 21, 2017.
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, 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 and other locations, and employs approximately 31,000 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 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.
SOURCE Chubb Limited