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.
The article Montpelier Re Keeps Dividend Steady originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool recommends Montpelier Re Holdings. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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