Irish insurer XL Group PLC, with Hartford operations, wants to buy back up to $850 million of its stock. XL also declared dividends, including an increase for common stockholders.
XL said the new share repurchase replaces its previous $250 million share buyback,and will involve buying its shares from time to time on the open market.
Meantime, the insurer said it will pay 14 cents a share – vs. 11 cents previously – on April 1 to common stockholders of record by March 15.
XL also said its wholly owned subsidiary, XLIT Ltd., will pay a dividend of $8.5575 a share on XLIT’s series D preference stock on April 15 to holders of record by April 1. Also, holders of XLIT’s series E preference shares will collect $32.50 a share on the same payment and record dates.
