December 11, 2009 (FinancialWire) — Axis Capital Holdings Ltd. (NYSE: AXS) said its board of directors has approved a 5% increase in the quarterly common dividend and has authorized a new share repurchase plan. The board has approved a 5% increase in the quarterly common dividend to $0.21 per share.

The common dividend will be payable on January 15, 2010 to the shareholders of record at the close of business on December 31, 2009.

The board also TODAY authorized the company to repurchase up to an additional $500 million of the company’s common shares. This new repurchase authorization is in addition to a $212 million available at September 30, 2009 under the board’s previous share repurchase authorization.

Axis said its board has authorized the company to effect repurchases under the new plan and the previous plan from time to time in open market or privately negotiated transactions through December 31, 2011, depending on market conditions.

Bermuda-based Axis Capital is a provider of specialty lines insurance and treaty reinsurance.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.