W. R. Berkley Corporation Declares Dividend and Increases Share Repurchase Authorization
Released : 08/08/2017
GREENWICH, Conn.--(BUSINESS WIRE)--
W. R. Berkley Corporation (NYSE:WRB) announced today that its
Board of Directors has declared a regular quarterly cash dividend on its
common stock of 14 cents per share to be paid on October 4, 2017 to
stockholders of record at the close of business on September 20, 2017.
In addition, the Board of Directors has increased the Company's share
repurchase authorization back to its previous level of 10 million shares
of common stock. The 10 million share repurchase authorization
represents approximately 8 percent of the Company’s shares outstanding
at June 30, 2017. The Company’s focus continues to be on delivering
value to shareholders through building book value as well as returning
excess capital to shareholders through a variety of available methods.
Repurchases may be made by the Company from time to time at prevailing
prices in the open market or in privately negotiated transactions,
subject to market conditions and other factors.
Celebrating 50 years, W. R. Berkley Corporation is an insurance holding
company that is among the largest commercial lines writers in the United
States and operates worldwide in two segments of the property casualty
insurance business: Insurance and Reinsurance. For further information
about W. R. Berkley Corporation, please visit www.wrberkley.com.
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W. R. Berkley Corporation
Eugene G. Ballard, 203-629-3000
Executive
Vice President – Finance
Source: W. R. Berkley Corporation