WR Berkley (WRB) Raises Dividend 20% to $0.24 Annually; Increases Buyback to 10M Shares
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W. R. Berkley Corporation (NYSE: WRB) today announced that its Board has approved a 20% increase in its dividend to an annual rate of $0.24. The dividend of $0.06 on a quarterly basis is payable on July 2 to shareholders of record on June 13.
In addition, the Board of Directors has increased the Company's share repurchase authorization to 10 million shares of common stock. The increased authorization represents approximately 6 percent of the Company's shares outstanding at May 1, 2008. 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.
W.R. Berkley Corporation, through its subsidiaries, operates in the property casualty insurance business primarily in the United States.
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