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Watford Holdings Ltd. (NASDAQ: WTRE) announced its decision to voluntarily terminate the listing of its cumulative redeemable preference shares (WTREP) from the Nasdaq Global Select Market. The company cited compliance with Nasdaq's listing requirements, noting fewer than 300 holders of the preference shares. A Form 25 will be filed with the SEC for deregistration, and the company will suspend its reporting obligations concerning the preference shares. Watford continues to operate in global insurance and reinsurance, holding approximately $1.2 billion in capital.
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.
Watford Holdings Ltd. (Nasdaq: WTRE) announced a quarterly dividend of $0.48385 per share on its 8½% Cumulative Redeemable Preference Shares (WTREP) for holders of record as of December 15, 2020. The dividend will be paid on December 31, 2020. The dividend rate is set based on the 3-month USD LIBOR plus a margin of 6.6785%. As of September 30, 2020, Watford held approximately $1.1 billion in capital, with financial strength ratings of “A-” from A.M. Best and “A” from Kroll Bond Rating Agency, although A.M. Best placed its ratings under review with negative implications earlier in the year.
Watford Holdings Ltd. (NASDAQ: WTRE) announced on October 19, 2020, that its Board of Directors determined the unsolicited proposal from Enstar Group Limited (NASDAQ: ESGR) to acquire shares for $34.50 could lead to a 'Superior Proposal' under its merger agreement with Arch Capital Group Ltd. However, the Board has not changed its support for the merger with Arch, where shareholders would receive $31.10 per share. Discussions with Enstar are in preliminary stages and may not result in a superior transaction.
Watford Holdings Ltd. (Nasdaq: WTRE) announced a quarterly dividend of $0.48385 per share on its 8½% Cumulative Redeemable Preference Shares (WTREP), payable on September 30, 2020 to holders of record as of September 15, 2020. The dividend rate for these shares is linked to the 3-month USD LIBOR plus a margin of 6.6785%. As of June 30, 2020, Watford reported approximately $1.0 billion in capital, with A.M. Best assigning a financial strength rating of A- and Kroll Bond Rating Agency reaffirming an A rating but with a negative outlook.
