Montpelier Increases Quarterly Dividend
Bermuda’s Montpelier Re Holdings Ltd. has declared an increased quarterly dividend of $0.105 per common share.
The company’s board of directors has also declared a quarterly dividend of $0.554688 per 8.875% Non-Cumulative Preferred Share, Series A. The dividends are payable on or before January 15, 2012, to all shareholders of record as of December 31, 2011.
The board currently intends to maintain the dividend per common share at the increased level in future periods and will consider further adjustments to its common share dividend policy periodically.
“Any future determination to pay dividends or distributions on common shares will remain at the discretion of the board and will be dependent upon many factors, including the company’s results of operations, cash flows, financial position, capital requirements, general business opportunities, legal, tax, regulatory and contractual restrictions,” said a Montpelier spokseman.
Headquartered on Pitts Bay Road, Montpelier Re, through its operating subsidiaries, is a premier provider of global property and casualty reinsurance and insurance products.
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