Watford to pay quarterly dividend on preference shares

Watford Holdings will pay a quarterly dividend on its 8.5 percent cumulative redeemable preference shares.

The re/insurer will pay $0.50580 per share, on June 30, 2020, to holders of record as of June 15, 2020.

The payment rate is calculated at the beginning of each calendar quarter by taking the three-month US dollar Libor rate on the first calendar day of the quarter, or the next business day, and adding a margin of 6.6785 percent. The dividend paid for that calendar quarter is based on the number of days in the quarter.

Watford’s preference shares trade on Nasdaq.