AXIS Capital To Buy Back Up To $750 Mln Of Stock

(RTTNews) - AXIS Capital Holdings Ltd. (AXS), Monday said its board has authorized the repurchase of up to $750 million of its common shares, effective through December 31, 2015, depending on market conditions. This new buy back, which is effective from January 1, 2014, will replace the existing authorization, that currently has about $308.9 million in remaining authorization available through December 31, 2013.

Further, the board declared a quarterly dividend of $0.27 per share, representing a 8 percent increase, payable on January 15, 2014 to shareholders of record on December 31, 2013.

Also, the board proposed a dividend of $1.875 per Series B Preferred Share, payable on March 3, 2014 to shareholders of record on February 14, 2014. A dividend of $0.429688 per Series C Preferred Share has been declared to be paid on January 15, 2014 to shareholders of record on December 31, 2013. Additionally, a dividend of $0.34375 per Series D Preferred Share has been proposed payable on March 3, 2014 to shareholders of record on February 14, 2014.