Watford announces quarterly dividend on preference shares
Bermuda-headquartered global property and casualty insurance and reinsurance company Watford Holdings is to pay to holders of record as of March 15, 2020 a quarterly dividend on its 8.5 percent cumulative redeemable preference shares, which trade on Nasdaq under the ticker symbol WTREP.
From and after the calendar quarter starting July 1, 2019, at the beginning of each calendar quarter the dividend rate on the preference shares will be adjusted for such calendar quarter to a rate equal to the 3-month US dollar LIBOR on the first calendar day of the quarter (or the next business day, if such first day is not a business day) plus a margin of 6.7 percent, and the dividend paid for that calendar quarter shall be based on the actual number of days in such quarter.
Pursuant to their terms, Watford said it intends to pay a quarterly dividend on the preference shares of $0.54 per share on March 31, 2020 to holders of record of the preference shares who held such shares on the record date.
