The Board of Directors of ACE said they would recommend to shareholders at the company’s 2013 AGM a four percent increase in the quarterly dividend.ACE said the proposal calls for a $2.04 annual dividend, payable in four instalments of $0.51 per quarter, compared to the current quarterly dividend amount of $0.49.“The formula for determining the Swiss francs amount for quarterly instalments will be described in the company’s Proxy Statement that will be distributed in advance of the Annual General Meeting, scheduled for May 16, 2013,” the company said in a statement.The Board of Directors also declared a quarterly dividend equal to $0.49 payable on April 12, 2013, to shareholders of record at the close of business on March 28, 2013, subject to a required filing with the Swiss Commercial Register.ACE said dividend payments will be made in United States dollars (USD) by the company’s transfer agent. The company’s par value is currently 28.89 Swiss francs (CHF) per share, and in connection with this dividend instalment, the par value per share will be reduced on the record date by the CHF equivalent of $0.49 based on the USD/CHF rate published on March 22, 2013. This will be the fourth of four par value reduction instalments as approved by the company’s shareholders on May 16, 2012.