W. R. Berkley Corporation Increases Dividend 10% and Increases Share Repurchase Authorization
W. R. Berkley Corporation (NYSE: WRB) announced today that its Board of Directors has voted to increase the regular cash dividend to an annual rate of 44 cents per share, representing a 10% increase from the present rate. The first regular quarterly dividend at the new rate of 11 cents per share will be paid on June 30, 2023 to stockholders of record at the close of business on June 26, 2023.
In addition, the Board of Directors has increased the Company's share repurchase authorization to 15 million shares of common stock. Repurchases may be made by the Company 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 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.
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