AXIS Capital declares quarterly dividends and announces new share repurchase authorization

Authored by AXIS

AXIS Capital Holdings Limited has announced that its Board of Directors has declared a quarterly dividend of $0.44 per common share payable on July 18, 2024 to shareholders of record at the close of business on June 28, 2024.

In addition, the Board declared a dividend of $34.375 per Series E 5.50% preferred share (equivalent to $0.34375 per depositary share) payable on July 18, 2024 to shareholders of record at the close of business on June 28, 2024.

AXIS Capital also announced that its Board of Directors approved a new share repurchase program, authorizing the Company to purchase up to an aggregate $300 million of the Company’s common shares. This new repurchase authorization is incremental to the Company’s previously announced $100 million share repurchase program, which has $36 million available for repurchases. The new share repurchase program will bring the total amount for future repurchases available to $336 million.

The new share repurchase program is open-ended, allowing the Company to repurchase its shares from time to time in the open market or in privately negotiated transactions. The Company will consider share repurchases on an opportunistic basis. The timing and amount of the repurchases will depend on a variety of factors, including market, economic, corporate and regulatory conditions.