WARREN, N.J., Dec. 9, 2010 /PRNewswire-FirstCall/ -- The Board of Directors of The Chubb Corporation (NYSE: CB) today declared a regular quarterly dividend in the amount of $0.37 per share payable January 11, 2011 to shareholders of record on December 23, 2010.
The Board also authorized a new share repurchase program of up to 30 million shares of the Corporation's common stock. Purchases may be made from time to time in the open market or in privately negotiated transactions. The program has no expiration date. The Corporation's existing repurchase program is expected to be completed prior to the end of the year.
"Today's actions reflect the Board's continued confidence in Chubb's strong financial condition as well as an ongoing commitment to the importance of our capital management strategy," said John D. Finnegan, Chairman, President and Chief Executive Officer.
For further information contact:
Glenn A. Montgomery
Mark E. Greenberg
Certain statements in this release are "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995 (PSLRA). These forward-looking statements are made pursuant to the safe harbor provisions of the PSLRA. Forward-looking statements are made based upon management's current expectations and beliefs concerning trends and future developments and their potential effects on us. These statements are not guarantees of future performance. Actual results may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties, which include, among others, those discussed or identified from time to time in our public filings with the Securities and Exchange Commission and those associated with general economic and market conditions, our financial performance and the capital requirements of our business. Chubb assumes no obligation to update any forward-looking information set forth in this document, which speak as of the date hereof.
SOURCE Chubb Corporation