PEMBROKE, Bermuda, Nov. 9, 2011 (GLOBE NEWSWIRE) -- Endurance Specialty Holdings Ltd. (NYSE:ENH), a Bermuda-based provider of property and casualty insurance and reinsurance, today announced that its Board of Directors approved a new share repurchase program authorizing the repurchase of up to 7 million ordinary shares in open market or privately negotiated transactions, from time to time, depending on market conditions. The new share repurchase program is authorized to continue through November 30, 2013 and supersedes the Company's existing share repurchase program.
The Board of Directors also declared a quarterly dividend of $0.30 per ordinary share, $0.484375 per share payable on its 7.75% Non-Cumulative Preferred Shares, Series A and $0.46875 per share payable on its 7.50% Non-Cumulative Preferred Shares, Series B. The dividend on Endurance's outstanding ordinary shares will be payable on December 30, 2011 to the ordinary shareholders of record on December 16, 2011 and the dividend on Endurance's Series A and Series B Preferred Shares will be payable on December 15, 2011 to the Series A and Series B Preferred shareholders of record on December 1, 2011.
About Endurance Specialty Holdings
Endurance Specialty Holdings Ltd. is a global specialty provider of property and casualty insurance and reinsurance. Through its operating subsidiaries, Endurance writes property, casualty, healthcare liability, agriculture and professional lines of insurance and property, catastrophe, casualty, agriculture, aerospace and marine, and surety and other specialty lines of reinsurance. We maintain excellent financial strength as evidenced by the ratings of A (Excellent) from A.M. Best (XV size category) and A (Strong) from Standard & Poor's. Endurance's headquarters are located at Wellesley House, 90 Pitts Bay Road, Pembroke HM 08, Bermuda and its mailing address is Endurance Specialty Holdings Ltd., Suite No. 784, No. 48 Par-la-Ville Road, Hamilton HM 11, Bermuda. For more information about Endurance, please visit www.endurance.bm.