By Ben Glickman

Chubb 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.

Write to Ben Glickman at

(END) Dow Jones Newswires

05-16-24 1643ET