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Arch Capital Group Ltd, 6.75% Non-Cumulative Preferred Shares, Series C
Ticker Symbol: ARH-C* CUSIP: G0450A204 Exchange: NYSE
* NOTE: This security is no longer trading as of 1/02/2018
Security has been Called for: Tuesday, January 2, 2018
12/01/2017 -- Arch Capital Group Ltd. announced today that it has closed its previously announced underwritten public offering of 4,000,000 Depositary Shares, each of which represents a 1/1,000th interest in a 5.45% Non-Cumulative Preferred Share, Series F, of ACGL The Company also announced today that it had called for redemption on January 2, 2018, all of its outstanding of 6.75% Series C Non-Cumulative Preferred Shares which are listed on the New York Stock Exchange under the symbol “ARH.PRC.” The Series C Non-Cumulative Preferred Shares will be redeemed at a redemption price equal to $25.00 per share plus all declared and unpaid dividends to (but excluding) the redemption date. The Paying Agent for the redemption is American Stock Transfer & Trust Company, LLC, and they can be reached toll-free at (877) 248-6417 or at (718) 921-8317 with any questions regarding the redemption. ACGL has declared a one-time dividend on the Series C Non-Cumulative Preferred Shares for the period from and including December 31, 2017 through and including January 1, 2018 of $0.009375 per share, which will be paid on the redemption date, along with the redemption price. Record holders of the Series C Non-Cumulative Preferred Shares as of December 15, 2017 will still receive the previously announced dividend for the fourth quarter of 2017, also payable on January 2, 2018. ____________ From the news release of 8/25/2017 -- The Company also announced today that it had called for redemption on September 25, 2017, 1,200,000 of its outstanding 6.75% Series C Non-Cumulative Preferred Shares. The Series C Non-Cumulative Preferred Shares will be redeemed at a redemption price equal to $25.00 per share (an aggregate redemption price of $30 million), plus all declared and unpaid dividends to (but excluding) the redemption date. ____________ From the form 8-K filed with the SEC on 8/17/2017 -- August 17, 2017 - Arch Capital Group Ltd. announced today that it had called for redemption on September 18, 2017, 8,000,000 of its outstanding of 6.75% Series C Non-Cumulative Preferred Shares. The Series C Non-Cumulative Preferred Shares will be redeemed at a redemption price equal to $25.00 per share (an aggregate redemption price of $200 million), plus all declared and unpaid dividends to (but excluding) the redemption date. The record date for payment of the dividend on the Series C Non-Cumulative Preferred Shares being redeemed is September 15, 2017.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Arch Capital Group Ltd, 6.75% Non-Cumulative Preferred Shares, Series C, liquidation preference $25 per share, redeemable at the issuer's option on or after 4/2/2017 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 6.75% ($1.6875) per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the record date that will be 3/15, 6/15, 9/15 & 12/15 respectively or on the record date fixed by the board, not more than 60 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. Upon the occurrence of a tax event or a proposal submitted to the common shareholders regarding a merger or similar event that requires a vote of the preferred shareholders, the company will have the option to redeem the preferred shares at $25 per share plus accrued and unpaid dividends (see the prospectus for details). Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-55 of the prospectus for further information). In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (ACGL)
IPO - 3/28/2012 - 13.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: ACGLF Changed: 4/09/2012
Market Value $325.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Foreign Address and Phone Numbers |
| Address: Wessex House, 45 Reid Street, Hamilton HM 12 Bermuda |
| Main Phone Number |
441-278-9250 |
| Fax Number |
441-278-9255 |
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Inv Rel Phone Number
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914-872-3616 |
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