Watford Announces Declaration of Quarterly Dividend on Preference Shares
Watford Holdings Ltd. (Nasdaq: WTRE) announced a quarterly dividend of $0.47859 per share on its 8½% Cumulative Redeemable Preference Shares (WTREP), to be paid on June 30, 2021, to holders of record as of June 15, 2021. The dividend rate will adjust quarterly based on the 3-month USD LIBOR plus a margin of 6.6785%. As of March 31, 2021, Watford reported approximately $1.202 billion in capital, with ratings of “A-” from A.M. Best and “A” from Kroll Bond Rating Agency. The company urges investors to consider tax implications before investing.
- Quarterly dividend of $0.47859 per share boosts shareholder income.
- Company maintains strong financial position with approximately $1.202 billion in capital.
- Positive financial strength ratings from A.M. Best and Kroll Bond Rating Agency.
- A.M. Best placed financial strength ratings under review with negative implications.
- Pending regulatory approval for a merger could introduce uncertainty.
PEMBROKE, Bermuda, June 07, 2021 (GLOBE NEWSWIRE) -- Watford Holdings Ltd. ("Watford") (Nasdaq: WTRE) announced today that on June 30, 2021, it intends to pay to holders of record as of June 15, 2021 (the "Record Date") a quarterly dividend on its 8½% Cumulative Redeemable Preference Shares, which trade on Nasdaq under the ticker symbol "WTREP" (the "Preference Shares").
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 USD 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
Pursuant to their terms, Watford intends to pay a quarterly dividend (the "2Q2021 Dividend") on the Preference Shares of
PROSPECTIVE INVESTORS ARE URGED TO CONSULT THEIR OWN TAX ADVISORS CONCERNING THE U.S. FEDERAL, STATE, LOCAL AND NON-U.S. TAX CONSEQUENCES TO THEM OF ACQUIRING, HOLDING AND DISPOSING OF THE PREFERENCE SHARES BASED ON THEIR PARTICULAR CIRCUMSTANCES PRIOR TO MAKING AN INVESTMENT.
About Watford Holdings Ltd.
Watford Holdings Ltd. is a global property and casualty insurance and reinsurance company with approximately
Cautionary Note Regarding Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 (the “PSLRA”) provides a “safe harbor” for forward-looking statements. This news release contains forward-looking statements. Forward-looking statements, for purposes of the PSLRA or otherwise, generally can be identified by the words “believes,” “expects,” “intends,” “plans,” “estimates” or similar expressions that indicate future events. These forward-looking statements include statements regarding the expected timing of the 2Q2021 Dividend. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including: uncertainties with respect to the timing of the 2Q2021 Dividend; market conditions; and other risks set forth in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the "SEC"), and in the Company’s other periodic reports filed with the SEC. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Watford disclaims any obligation to update these forward-looking statements because of new information, future events or circumstances or other factors.
Contact: Laurence Richardson (Investor Contact): lbr@watfordholdings.com
FAQ
What is the dividend amount for Watford Holdings Ltd. in Q2 2021?
When will Watford Holdings Ltd. pay the Q2 2021 dividend?
What is the record date for the Q2 2021 dividend for WTREP?
How is the dividend rate for Watford's Preference Shares calculated?