RenaissanceRe approves increase in share repurchase programme
The board of directors of re/insurer RenaissanceRe has announced quarterly dividend of $0.30 per common share on its common stock.
The dividend is payable on December 31, 2015 to shareholders of record on December 15, 2015.
In addition, the board of directors of the Bermuda-based firm has approved an increase in RenaissanceRe's share repurchase programme, bringing the total current authorisation to $500 million.
This authorisation includes the remaining amounts available under prior authorisations. Under this programme, RenaissanceRe may repurchase shares of its common stock in the open market based on, among other things, its ongoing capital requirements and expected cash flows, and the market price of its common shares.
The repurchase programme does not have an established expiration date.