The board of directors of ACE Limited yesterday declared a quarterly dividend equal to $0.51 payable on October 21 to shareholders of record at the close of business on September 30, subject to a required filing with the Swiss Commercial Register. Dividend payments will be made in US dollars by the company’s transfer agent.The company’s par value is currently 27.95 Swiss francs (CHF) per share, and in connection with the dividend the par value per share will be reduced on the record date by the CHF equivalent of $0.51 based on the USD/CHF rate published on September 23. This will be the second of four par value reduction instalments as approved by the company’s shareholders on May 16.