Enstar Group Limited Announces Quarterly Preference Share Dividends

Rhea-AI Summary

Enstar Group Limited (Nasdaq: ESGR) announced cash dividends for its Series D and Series E preference shares. Each share will pay $0.43750 per depositary share, corresponding to a 7.00% fixed-to-floating rate and 7.00% perpetual non-cumulative rate, respectively. The dividends are payable on September 1, 2020, to shareholders of record on August 15, 2020. Enstar specializes in innovative capital release solutions and has completed over 100 legacy acquisitions since 2001, indicating a strong market position and commitment to shareholder returns.

Positive

• Cash dividends of $0.43750 per depositary share for Series D and E, providing income for shareholders.
• Continuing 7.00% fixed annual returns enhance shareholder confidence.
• Strong market presence with over 100 completed legacy acquisitions signals growth potential.

Negative

• None.

HAMILTON, Bermuda, Aug. 05, 2020 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) today announced that it will pay cash dividends on its Series D and Series E preference shares.

Dividends on Enstar’s Series D 7.00% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares of $0.43750 per depositary share (each of which represents a 1/1,000th interest in a Series D Preference Share) will be payable on September 1, 2020 to shareholders of record on August 15, 2020.

Dividends on Enstar’s Series E 7.00% Perpetual Non-Cumulative Preference Shares of $0.43750 per depositary share (each of which represents a 1/1,000th interest in a Series E Preference Share) will be payable on September 1, 2020 to shareholders of record on August 15, 2020.

About Enstar

Enstar is a multi-faceted insurance group that offers innovative capital release solutions and specialty underwriting capabilities through its network of group companies in Bermuda, the United States, the United Kingdom, Continental Europe, Australia, and other international locations. Enstar is a market leader in completing legacy acquisitions, having acquired over 100 companies and portfolios since its formation in 2001. Enstar’s active underwriting businesses include the StarStone group of companies, an A- rated global specialty insurance group with multiple global underwriting platforms, and the Atrium group of companies, which manage and underwrite specialist insurance and reinsurance business for Lloyd’s Syndicate 609. For further information about Enstar, see www.enstargroup.com.

Cautionary Statement

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements regarding the intent, belief or current expectations of Enstar and its management team. Investors are cautioned that any such forward-looking statements speak only as of the date they are made, are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, including the ongoing COVID-19 pandemic and the related uncertainty and volatility in the financial markets. Important risk factors regarding Enstar can be found under the heading "Risk Factors" in our Form 10-K for the year ended December 31, 2019 and in our Form 10-Q for the three months ended March 31, 2020 and are incorporated herein by reference. Furthermore, Enstar undertakes no obligation to update any written or oral forward-looking statements or publicly announce any updates or revisions to any of the forward-looking statements contained herein, to reflect any change in its expectations with regard thereto or any change in events, conditions, circumstances or assumptions underlying such statements, except as required by law.

Contact: Enstar Communications
Telephone: +1 (441) 292-3645

FAQ

What is the dividend amount for Enstar Group (ESGR)?

Enstar Group (ESGR) announced a dividend of $0.43750 per depositary share for both Series D and Series E preference shares.

When is the next dividend payment date for ESGR?

The next dividend payment date for ESGR is September 1, 2020.

What is the record date for Enstar's upcoming dividend?

The record date for Enstar's upcoming dividend is August 15, 2020.

How often does Enstar pay dividends?

Enstar typically pays dividends on a regular basis, as evidenced by its recent announcement for Series D and E preference shares.

Is the dividend from Enstar Group sustainable?

While the dividend is currently being paid, sustainability depends on the company's ongoing financial performance and market conditions.