Chubb raises dividend 5.8% after Berkshire-related stock boost
By Ben Glickman
Chubb (CB) on Thursday raised its dividend 5.8%, which the company said marked its 31st consecutive hike.
The Zurich-based property-casualty insurer declared an annual dividend of $3.64 a share, or 91 cents a quarter, compared with its previous dividend of $3.44 a share a year, or 86 cents a quarter.
The dividend raise comes after Chubb's shares hit an all-time high on Thursday. Shares rose 4.7% after the company was revealed as the mystery investment of Warren Buffett's Berkshire Hathaway.
Berkshire reported a $6.7 billion stake in the company late Wednesday.
The new payout represents an annual yield of 1.4% based on Thursday's closing price of $264.88.
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05-16-24 1734ET
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