W. R. Berkley Corporation Declares Special and Regular Quarterly Cash Dividends

Rhea-AI Summary

W. R. Berkley Corporation (NYSE: WRB) has declared a special cash dividend of $1.00 per share, payable on December 22, 2021, for stockholders of record by December 7, 2021. This follows a previous $0.50 per share dividend in July, totaling $1.50 for special dividends in 2021. The Board has also authorized a regular quarterly cash dividend of 13 cents per share, due on the same date. Total capital returned to shareholders in 2021 is approximately $478 million. Additionally, the share repurchase authorization has been increased to 10 million shares.

Positive

• Declaration of a special dividend of $1.00 per share, enhancing shareholder returns.
• Regular quarterly cash dividend of 13 cents per share, providing consistent income.
• Total capital returned to shareholders in 2021 has reached approximately $478 million.
• Share repurchase authorization increased to 10 million shares, supporting stock value.

Negative

• None.

Increases Share Repurchase Authorization

GREENWICH, Conn.--(BUSINESS WIRE)-- W. R. Berkley Corporation (NYSE: WRB) announced today that its Board of Directors has declared a special cash dividend on its common stock of $1.00 per share to be paid on December 22, 2021 to stockholders of record at the close of business on December 7, 2021. Together with the 50 cents per share special dividend that was paid on July 6, 2021, this will bring special dividends paid during 2021 to $1.50 per share.

In addition, the Board of Directors has declared a regular quarterly cash dividend on its common stock of 13 cents per share to be paid on December 22, 2021 to stockholders of record at the close of business on December 7, 2021.

Including all special and ordinary dividends declared to date in 2021 and all shares repurchased through September, 30, 2021, total capital returned to shareholders during 2021 is approximately $478 million.

Further, 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 6 percent of the Company’s shares outstanding at September 30, 2021. Repurchases may be made from time to time at prevailing prices in the open market or in privately negotiated transactions, subject to market conditions and other factors.

Founded in 1967, 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 & Monoline Excess. For further information about W. R. Berkley Corporation, please visit www.berkley.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211105005833/en/

Karen A. Horvath

Vice President – External

Financial Communications

203-629-3000

Source: W. R. Berkley Corporation

FAQ

What is the special dividend amount declared by W. R. Berkley Corporation (WRB)?

W. R. Berkley Corporation has declared a special cash dividend of $1.00 per share.

When will the special dividend be paid to shareholders of WRB?

The special dividend will be paid on December 22, 2021, to shareholders of record by December 7, 2021.

What is the total capital returned to shareholders by WRB in 2021?

W. R. Berkley Corporation has returned approximately $478 million to shareholders in 2021.

How many shares has W. R. Berkley Corporation authorized for repurchase?

W. R. Berkley Corporation has authorized the repurchase of 10 million shares.

What is the regular quarterly dividend amount for W. R. Berkley Corporation (WRB)?

The regular quarterly cash dividend is 13 cents per share.