PEMBROKE, Bermuda, Aug. 09, 2018 (GLOBE NEWSWIRE) -- Maiden Holdings, Ltd. (NASDAQ: MHLD) today announced that the Company’s Board of Directors approved a quarterly cash dividend of $.05 per share of common stock payable on October 15, 2018 to shareholders of record as of October 1, 2018.
Maiden’s Board of Directors also approved the following cash dividends on its preference shares that are payable on September 17, 2018 to shareholders of record as of September 1, 2018:
- Series A 8.250% Non-Cumulative Preference Shares of $0.515625 per Preference Share
- Series C 7.125% Non-Cumulative Preference Shares of $0.445313 per Preference Share
- Series D 6.700% Non-Cumulative Preference Shares of $0.418750 per Preference Share
As regards the Company’s reduction in its common stock dividend, the Company’s Board determined that this distribution should be commensurate with the current earnings power of the business and as the Company continues to undertake and implement its strategic review, it expects to revisit the common stock dividend in the context of the steps taken to increase shareholder value.
About Maiden Holdings, Ltd.
Maiden Holdings, Ltd. is a Bermuda-based holding company formed in 2007. Through its subsidiaries, which are each A- rated (excellent) by A.M. Best, the Company is focused on providing non-catastrophic, customized reinsurance products and services to small and mid-size insurance companies in the United States and Europe. As of June 30, 2018, Maiden had $6.7 billion in assets and shareholders' equity of $1.1 billion.
CONTACT:
Bill Horning, Senior Vice President, Investor Relations
Maiden Holdings, Ltd.
Phone: 856.359.2532
E-mail: bhorning@maiden.bm