HAMILTON, Bermuda--(BUSINESS WIRE)--Argo Group International Holdings, Ltd. (NASDAQ: AGII), an international underwriter of specialty insurance and reinsurance products, announced today its Board of Directors has declared a 15% stock dividend. The stock dividend is payable on March 21, 2018, to shareholders of record at the close of business on March 7, 2018. Shareholders will receive cash in lieu of fractional shares.
In addition, the Board of Directors declared a quarterly cash dividend of $0.27 per share on the company's common stock. The cash dividend will be paid March 23, 2018, on a post-stock dividend basis, to shareholders of record at the close of business on March 7, 2018.
As a result of the Board's action, the outstanding shares of the Company's common stock will increase by approximately 4.4 million shares, from 29.6 million shares outstanding to 34.0 million shares outstanding.
ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
Argo Group International Holdings, Ltd. (NASDAQ: AGII) is an international underwriter of specialty insurance and reinsurance products in the property and casualty market. Argo Group offers a full line of products and services designed to meet the unique coverage and claims handling needs of businesses in two primary segments: U.S. Operations and International Operations. Argo Group's insurance subsidiaries are A. M. Best-rated 'A' (Excellent) (third highest rating out of 16 rating classifications) with a stable outlook, and Argo Group's U.S. insurance subsidiaries are Standard and Poor's-rated 'A-' (Strong) with a stable outlook. More information on Argo Group and its subsidiaries is available at www.argolimited.com.