Argo Group Announces a 15% Stock Dividend and Declares a Quarterly Cash Dividend of $0.27 Per Share
21 February 2018 - 4:35AM
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 15%
stock dividend. The stock dividend is payable on March 21, 2018, to
shareholders of record at the close of business on March 7, 2018.
Shareholders will receive cash in lieu of fractional shares.
In addition, the Board of Directors declared a quarterly cash
dividend of $0.27 per share on the company's common stock. The cash
dividend will be paid March 23, 2018, on a post-stock dividend
basis, to shareholders of record at the close of business on March
7, 2018.
As a result of the Board's action, the outstanding shares of the
Company's common stock will increase by approximately 4.4 million
shares, from 29.6 million shares outstanding to 34.0 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 two primary
segments: U.S. Operations and International Operations. 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 Group'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.
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version on businesswire.com: http://www.businesswire.com/news/home/20180220006225/en/
Argo Group International Holdings, Ltd.Susan Spivak Bernstein,
212-607-8835Senior Vice President, Investor Relations
Argo (NYSE:ARGO)
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