Argo Group Announces a 10% Stock Dividend and Declares Regular Quarterly
Cash Dividend of 15 Cents Per Share
HAMILTON, Bermuda -- May 07, 2013
Argo Group International Holdings, Ltd. (NasdaqGS: AGII), an international
underwriter of specialty insurance and reinsurance products, announced today
its Board of Directors has declared a 10% stock dividend. The stock dividend
is payable on June 17, 2013, to shareholders of record at the close of
business on June 3, 2013. Shareholders will receive cash in lieu of fractional
In addition, the Board of Directors approved the Company's regular quarterly
cash dividend of 15 cents per share on the Company's common stock, on a
post-stock dividend basis. The cash dividend will be paid on June 20, 2013, to
shareholders of record at the close of business on June 3, 2013.
As a result of the Board's action, the outstanding shares of the Company's
common stock will increase by approximately 2,454,290 shares, from 24,542,901
shares outstanding to 26,997,191 shares outstanding.
ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
Argo Group International Holdings, Ltd. (NasdaqGS: 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 four primary segments: Excess & Surplus Lines, Commercial Specialty,
International Specialty and Syndicate 1200. 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'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
This press release contains certain statements that are “forward-looking
statements” within the meaning of Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934, as amended. Such
statements are qualified by the inherent risks and uncertainties surrounding
future expectations generally and also may differ materially from actual
future experience involving any one or more of such statements. For a more
detailed discussion of such risks and uncertainties, see Argo Group's filings
with the SEC. The inclusion of a forward-looking statement herein should not
be regarded as a representation by Argo Group that Argo Group's objectives
will be achieved. Argo Group undertakes no obligation to publicly update
forward-looking statements, whether as a result of new information, future
events or otherwise.
Argo Group International Holdings, Ltd.
George Luecke, 212-607-8802
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