Fidelis Insurance Group Declares Quarterly Dividend and Announces New Share Repurchase Authorization
Fidelis Insurance Holdings (NYSE:FIHL), a global specialty insurer, has announced two significant developments. Firstly, the Board of Directors has declared a quarterly dividend of $0.10 per share, payable on September 30, 2024, to shareholders of record on September 16, 2024. Secondly, the Board has approved a new share repurchase program authorizing the company to buy back up to $200 million of its shares.
The repurchase program allows for various methods of share buybacks, including open market purchases, accelerated share repurchases, and privately negotiated transactions. The timing and volume of repurchases will be at the company's discretion, based on factors such as intrinsic value assessment, market conditions, and available liquidity. The program can be suspended or discontinued at any time by the Board of Directors.
Fidelis Insurance Holdings (NYSE:FIHL), un assicuratore globale specializzato, ha annunciato due sviluppi significativi. In primo luogo, il Consiglio di Amministrazione ha dichiarato un dividendo trimestrale di $0.10 per azione, pagabile il 30 settembre 2024, agli azionisti registrati il 16 settembre 2024. In secondo luogo, il Consiglio ha approvato un nuovo programma di riacquisto di azioni autorizzando l'azienda a riacquistare fino a $200 milioni delle proprie azioni.
Il programma di riacquisto prevede vari metodi per il riacquisto delle azioni, inclusi acquisti sul mercato aperto, riacquisti accelerati e transazioni negoziate privatamente. Il tempismo e il volume dei riacquisti saranno a discrezione dell'azienda, basandosi su fattori come la valutazione del valore intrinseco, le condizioni di mercato e la liquidità disponibile. Il programma può essere sospeso o interrotto in qualsiasi momento dal Consiglio di Amministrazione.
Fidelis Insurance Holdings (NYSE:FIHL), un asegurador especializado global, ha anunciado dos desarrollos significativos. En primer lugar, la Junta Directiva ha declarado un dividendo trimestral de $0.10 por acción, que se pagará el 30 de septiembre de 2024, a los accionistas registrados el 16 de septiembre de 2024. En segundo lugar, la Junta ha aprobado un nuevo programa de recompra de acciones que autoriza a la empresa a recomprar hasta $200 millones de sus acciones.
El programa de recompra permite varios métodos de recompra de acciones, incluidos compras en el mercado abierto, recompra acelerada y transacciones negociadas privadamente. El momento y el volumen de las recompras estarán a discreción de la empresa, basándose en factores como la evaluación del valor intrínseco, las condiciones del mercado y la liquidez disponible. El programa puede ser suspendido o discontinuado en cualquier momento por la Junta Directiva.
피델리스 인슈어런스 홀딩스(NYSE:FIHL), 글로벌 전문 보험 회사가 두 가지 중요한 발전을 발표했습니다. 첫째, 이사회는 주당 $0.10의 분기 배당금을 선언했으며, 2024년 9월 30일에 2024년 9월 16일 기준 주주에게 지급됩니다. 둘째, 이사회는 새로운 자사주 매입 프로그램을 승인하여 회사가 최대 $200 백만의 자사주를 매입할 수 있도록 허가했습니다.
매입 프로그램은 공개 시장 매입, 가속 자사주 매입 및 사적으로 협상된 거래를 포함한 다양한 매입 방법을 허용합니다. 매입의 시기와 양은 회사의 재량에 따라 내재 가치 평가, 시장 상황 및 가용 유동성과 같은 요인을 바탕으로 결정됩니다. 프로그램은 이사회에 의해 언제든지 중단되거나 종료될 수 있습니다.
Fidelis Insurance Holdings (NYSE:FIHL), un assureur spécialisé mondial, a annoncé deux développements significatifs. Premièrement, le Conseil d'Administration a déclaré un dividende trimestriel de 0,10 $ par action, payable le 30 septembre 2024, aux actionnaires inscrits le 16 septembre 2024. Deuxièmement, le Conseil a approuvé un nouveau programme de rachat d’actions autorisant la société à racheter jusqu'à 200 millions $ de ses actions.
Le programme de rachat permet divers moyens de rachat d’actions, y compris des achats sur le marché ouvert, des rachats accélérés et des transactions négociées de manière privée. Le moment et le volume des rachats seront à la discrétion de l'entreprise, en fonction de facteurs tels que l'évaluation de la valeur intrinsèque, les conditions du marché et la liquidité disponible. Le programme peut être suspendu ou interrompu à tout moment par le Conseil d'Administration.
Fidelis Insurance Holdings (NYSE:FIHL), ein globaler Spezialversicherer, hat zwei bedeutende Entwicklungen bekannt gegeben. Erstens hat der Vorstand eine quartalsweise Dividende von 0,10 $ pro Aktie erklärt, die am 30. September 2024 an Aktionäre, die am 16. September 2024 registriert sind, ausgezahlt wird. Zweitens hat der Vorstand ein neues Aktienrückkaufprogramm genehmigt, das das Unternehmen autorisiert, bis zu 200 Millionen $ seiner Aktien zurückzukaufen.
Das Rückkaufprogramm ermöglicht verschiedene Methoden des Aktienrückkaufs, einschließlich Käufe am offenen Markt, beschleunigte Rückkäufe und privat ausgehandelte Transaktionen. Der Zeitpunkt und das Volumen der Rückkäufe liegen im Ermessen des Unternehmens, basierend auf Faktoren wie der Bewertung des inneren Wertes, den Marktbedingungen und der verfügbaren Liquidität. Das Programm kann jederzeit vom Vorstand ausgesetzt oder eingestellt werden.
- Declaration of a $0.10 per share quarterly dividend
- Authorization of a $200 million share repurchase program
- Flexibility in repurchase methods, including open market and private transactions
- Potential to enhance shareholder value through share buybacks
- Potential reduction in cash reserves due to dividend payments and share repurchases
- Possible limitation on funds available for growth opportunities or investments
Insights
The declaration of a
The share repurchase program is particularly noteworthy. At
Overall, these actions suggest a balanced approach between rewarding shareholders and maintaining financial flexibility. The company's ability to fund both dividends and buybacks indicates strong cash generation, but investors should monitor how this impacts Fidelis's growth strategy and market position in the competitive insurance sector.
Fidelis Insurance Group's dividend declaration and share repurchase authorization are likely to be viewed positively by the market. These actions typically signal management's confidence in the company's financial health and future prospects. The
The
Investors should note the flexibility built into the repurchase program, allowing for various execution methods. This adaptability could be beneficial in volatile market conditions. The market's reaction will likely depend on how these capital allocation decisions balance with Fidelis's growth strategy in the competitive global specialty insurance market.
PEMBROKE,
In addition, the Board of Directors approved a new share repurchase program (the “Program”), authorizing the Company to purchase up to an aggregate
Pursuant to the Program, the Company may repurchase shares through open market purchases under Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), accelerated share repurchases or privately negotiated transactions, as well as pursuant to a trading plan meeting the requirements of Rule 10b5-1 under the Exchange Act.
The timing, as well as the number and value of common shares repurchased under the Program, will be determined by the Company at its discretion and will depend on a variety of factors, including its assessment of the intrinsic value of the Company’s common shares, attractive growth opportunities, the market price of the Company’s common shares, general market and economic conditions, available liquidity, compliance with the Company’s debt and other agreements, applicable legal, regulatory and contractual restrictions and the Company’s capital and business strategy. The Program may be suspended or discontinued by the Board of Directors at any time.
About Fidelis Insurance Group
Fidelis Insurance Group is a global specialty insurer, leveraging strategic partnerships to offer innovative and tailored insurance solutions.
We have a highly diversified portfolio focused on three segments: Specialty, Bespoke, and Reinsurance, which we believe allows us to take advantage of the opportunities presented by evolving (re)insurance markets, proactively shift our business mix across market cycles, and produce superior underwriting returns.
Headquartered in
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Fidelis Insurance Group Investor Contact:
Fidelis Insurance Group
Miranda Hunter
(441) 279 2561
miranda.hunter@fidelisinsurance.com
Fidelis Insurance Group Media Contacts:
Rein4ce
Sarah Hills
+44 (0)7718 882011
sarah.hills@rein4ce.co.uk
Source: Fidelis Insurance Holdings Limited
FAQ
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