Increases Share Repurchase Authorization
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.
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Contacts
Karen A. Horvath
Vice President – External
Financial Communications
203-629-3000
