XL Group Increases Share Buyback Program; Ups Quarterly Dividend - Quick Facts

(RTTNews) - XL Group plc's (XL) board increased the firm's share buyback program, authorizing it to repurchase up to $1 billion of its ordinary stock. This includes nearly $200 million of ordinary shares that remained available for purchase under the program.

Further, the board declared a quarterly dividend on February 20, 2014 of $0.16 per ordinary share payable on the company's ordinary shares. This action raises the quarterly dividend to $0.16 per ordinary share from $0.14 per ordinary share, and would be payable on March 31, 2014 to ordinary shareholders of record as of March 14, 2014.

In addition, XL announced that the board its subsidiary, XLIT Ltd., resolved on February 20, 2014 to pay a dividend of $8.3946 per share on XLIT Ltd.'s Series D Preference Ordinary Shares, payable on April 15, 2014 to all shareholders of record as of April 1, 2014, and a dividend of $32.50 per share on XLIT Ltd.'s Series E Preference Ordinary Shares, payable on April 15, 2014 to all shareholders of record as of April 1, 2014.