Montpelier Re Keeps Dividend Steady
Jun 12th 2013 9:49PM
Updated Jun 13th 2013 8:20AM
Property and casualty reinsurer Montpelier Re announced this morning its second-quarter dividend of $0.115 per share, the same rate it's paid for the past two quarters after raising the payout 10% from $0.105 per share.
The board of directors also declared a quarterly dividend of $0.554688 for its 8.875% Series A non-cumulative preferred shares.
The board said the dividends on both the common and preferred shares are payable on July 15 to holders of record at the close of business on June 28. The insurer has made quarterly payouts to investors since 2003.
The regular dividend payment equates to a $0.46-per-share annual dividend, yielding 1.8% based on the closing price of Montpelier Re's stock on June 11.
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