SiriusPoint Announces Dividend on Series B Preference Shares
SiriusPoint Ltd. has approved a quarterly cash dividend of $0.50 per share on its 8.00% Resettable Fixed Rate Preference Shares, Series B, payable on February 29, 2024. The dividend is for Series B shareholders of record as of February 14, 2024.
The announcement of a quarterly cash dividend on SiriusPoint Ltd.'s 8.00% Resettable Fixed Rate Preference Shares, Series B, is a significant indicator of the company's current financial health and its ability to generate cash flow. Dividends are often seen as a reflection of a company's confidence in its ongoing profitability and financial stability. In this case, the $0.50 per share dividend distribution suggests that SiriusPoint is maintaining a steady stream of income, which can be attractive to investors seeking regular income from their investments.
However, it's important to consider the dividend yield, which is the dividend per share divided by the share price. A high yield can be attractive, but it can also indicate that the share price has fallen, possibly due to underlying issues within the company or industry. Conversely, a lower yield might reflect a higher share price, indicating investor confidence. The sustainability of the dividend also plays a crucial role; investors should assess whether the company can continue to pay dividends at the current rate without compromising its financial position.
From a market perspective, the payment of dividends by SiriusPoint Ltd. can have implications for the company's stock performance. Dividends can act as a stabilizing factor for a stock, making it more appealing to value investors who prioritize steady returns over high growth potential. This announcement may lead to increased interest in SiriusPoint's shares in the short term, particularly among income-focused investors.
Moreover, the timing of the dividend in relation to the record date could influence the stock's trading volume, as investors might buy shares leading up to the record date to qualify for the dividend payment. While this can temporarily boost the stock price, it's essential for investors to consider the long-term fundamentals of the company rather than merely the short-term incentives provided by dividend payments.
02/02/2024 - 04:15 PM
HAMILTON, Bermuda, Feb. 02, 2024 (GLOBE NEWSWIRE) -- SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE: SPNT), an international specialty insurer and reinsurer, has announced that the Board of Directors of SiriusPoint Ltd. approved a quarterly cash dividend of $0.50 per share on its 8.00% Resettable Fixed Rate Preference Shares, Series B, $0.10 par value, $25.00 liquidation preference per share payable on February 29, 2024 to Series B shareholders of record as of February 14, 2024.
About SiriusPoint
SiriusPoint is a global underwriter of insurance and reinsurance providing solutions to clients and brokers around the world. Bermuda-headquartered with offices in New York, London, Stockholm and other locations, we are listed on the New York Stock Exchange (SPNT). We have licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. Our offering and distribution capabilities are strengthened by a portfolio of strategic partnerships with Managing General Agents within our Insurance & Services segment. With over $3.0 billion total capital, SiriusPoint’s operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch. For more information please visit www.siriuspt.com .
SiriusPoint Contacts
Investor Relations Dhruv.gahlaut@siriuspt.com
Media Sarah.hills@rein4ce.co.uk
What is the quarterly cash dividend approved by SiriusPoint Ltd.?
The quarterly cash dividend approved by SiriusPoint Ltd. is $0.50 per share on its 8.00% Resettable Fixed Rate Preference Shares, Series B.
When is the quarterly cash dividend payable?
The quarterly cash dividend is payable on February 29, 2024.
Who are eligible for the quarterly cash dividend?
The dividend is for Series B shareholders of record as of February 14, 2024.
