By Colin Kellaher

Chubb's board is recommending that shareholders approve a 5.8% increase in the insurer's dividend at the annual investor meeting later this year.

The proposed new annual rate of $3.64 would equate to a yield of about 1.44% based on Wednesday's closing price of $251.96, up from about 1.37%.

The Zurich-based property-and-casualty insurance giant on Thursday said the increase would mark the 31st consecutive annual rise in its dividend, with the quarterly payout moving to 91 cents from 86 cents.

Write to Colin Kellaher at

(END) Dow Jones Newswires

02-22-24 0712ET