UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
February 27, 2008
Date of Report
(Date of earliest event reported)
Arch Capital Group Ltd.
(Exact name of registrant as specified in its charter)
|
Bermuda |
|
0-26456 |
|
N/A |
|
(State or other jurisdiction of |
|
(Commission File Number) |
|
(I.R.S. Employer |
Wessex House, 45 Reid Street,
Hamilton HM 12, Bermuda
(Address of
principal executive offices) (Zip Code)
Registrant’s telephone
number, including area code:
(441) 278-9250
N/A
(Former name or
former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 8.01 Other Events.
Preferred Share Dividends.
On February 27, 2008, the Board declared dividends with respect to the
outstanding (1) 8,000,000 shares of its 8.00% Non-Cumulative Preferred Shares,
Series A, $0.01 per share (the “Series A Shares”), with a liquidation
preference of $25.00 per share, and (2) 5,000,000 shares of its 7.875%
Non-Cumulative Preferred Shares, Series B, $0.01 per share (the “Series B
Shares”), with a liquidation preference of $25.00 per share, as outlined below. All such dividends will be payable out of
lawfully available funds for the payment of dividends under Bermuda law on May
15, 2008 to holders of record of the Series A Shares and the Series B Shares,
as applicable, as of May 1, 2008, unless determined otherwise by the Board or
the Executive Committee of the Board on or prior to the applicable effective
date.
|
Series |
|
Effective Date |
|
Dividend |
|
Dividend |
|
Rate |
|
|
Series A |
|
3/31/08 |
|
2/15/08-3/31/08 |
|
$2,044,444 |
|
$0.2556 |
|
|
|
|
5/14/08 |
|
4/1/08-5/14/08 |
|
1,955,556 |
|
0.2444 |
|
|
|
|
|
|
|
|
$4,000,000 |
|
$0.50 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Series B |
|
3/31/08 |
|
2/15/08-3/31/08 |
|
$1,257,813 |
|
$0.2516 |
|
|
|
|
5/14/08 |
|
4/1/08-5/14/08 |
|
1,203,125 |
|
0.2406 |
|
|
|
|
|
|
|
|
$2,460,938 |
|
$0.4922 |
|
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned.
|
|
ARCH CAPITAL GROUP LTD. |
||
|
|
|
|
|
|
|
|
|
|
|
Date: March 3, 2008 |
By |
/s/ Constantine Iordanou |
|
|
|
|
Name: |
Constantine Iordanou |
|
|
|
Title: |
President and Chief |
|
|
|
|
Executive Officer |
3