Maiden Holdings Declares Dividend
Bermuda’s Maiden Holdings today [Feb.23] announced that its board of directors approved a quarterly cash dividend of $0.08 per share of common stock. The dividend will be payable on April 16, 2012 to shareholders of record as of April 2, 2012.
Earlier this week the company declared fourth quarter 2011 net operating earnings of $17.2 million, or $0.24 per diluted share compared with $17.2 million, or $0.24 per diluted share in the comparative quarter in 2010. Net premiums written increased by 23.8% to $408.5 million compared to the fourth quarter 2010. There was a combined ratio of 98.3% versus 97.3% in the fourth quarter of 2010
Maiden Holdings, Ltd. is a Bermuda-based holding company formed in 2007. Through its subsidiaries, which are each A- rated [excellent] by A.M. Best, the company is focused on providing non-catastrophic, customized reinsurance products and services to small and mid-size insurance companies in the United States and Europe.
As of December 31, 2011, Maiden had $3.4 billion in assets and shareholders’ equity of $768.6 million.
