Validus Holdings, Ltd. Announces Quarterly Common Share Dividend and Quarterly Preferred Share Dividend
May 10 2017 - 4:16PM
Business Wire
Validus Holdings, Ltd. (“Validus” or the “Company”) (NYSE:VR)
announced today that its Board of Directors has declared a
quarterly cash dividend of $0.38 per common share. The common share
dividend is payable on June 30, 2017 to shareholders of record on
June 15, 2017.
In addition, the Board of Directors has declared a cash dividend
on the Company’s Series A 5.875% Preferred Shares of $0.3671875 per
depositary share. The Series A Preferred Share dividend is payable
on June 15, 2017 to shareholders of record on June 1, 2017.
About Validus Holdings,
Ltd.
Validus Holdings, Ltd. (“Validus”) is a holding company for
reinsurance and insurance operating companies and investment
advisors including Validus Reinsurance, Ltd. (“Validus Re”), Talbot
Underwriting Ltd. (“Talbot”), Western World Insurance Group, Inc.
(“Western World”) and AlphaCat Managers, Ltd. (“AlphaCat”).
Validus Re is a global reinsurance group focused primarily on
treaty reinsurance. Talbot is a specialty insurance group primarily
operating within the Lloyd's insurance market through Syndicate
1183. Western World is a U.S. specialty lines insurance group
focused on excess and surplus lines. AlphaCat is a Bermuda based
investment advisor managing capital for third parties and Validus
in insurance linked securities and other property catastrophe and
specialty reinsurance investments.
Cautionary Note Regarding
Forward-Looking Statements
This press release may include forward-looking statements, both
with respect to the Company and its industry, that reflect our
current views with respect to future events and financial
performance. Statements that include the words "expect", "intend",
"plan", "believe", "project", "anticipate", "will", "may" and
similar statements of a future or forward-looking nature identify
forward-looking statements. All forward-looking statements address
matters that involve risks and uncertainties, many of which are
beyond the Company's control. Accordingly, there are or will be
important factors that could cause actual results to differ
materially from those indicated in such statements and, therefore,
you should not place undue reliance on any such statements. We
believe that these factors include, but are not limited to, the
following: 1) unpredictability and severity of catastrophic events;
2) rating agency actions; 3) adequacy of Validus' risk management
and loss limitation methods; 4) cyclicality of demand and pricing
in the insurance and reinsurance markets; 5) statutory or
regulatory developments including tax policy, reinsurance and other
regulatory matters; 6) Validus' ability to implement its business
strategy during "soft" as well as "hard" markets; 7) adequacy of
Validus' loss reserves; 8) continued availability of capital and
financing; 9) retention of key personnel; 10) competition; 11)
potential loss of business from one or more major insurance or
reinsurance brokers; 12) Validus' ability to implement,
successfully and on a timely basis, complex infrastructure,
distribution capabilities, systems, procedures and internal
controls, and to develop accurate actuarial data to support the
business and regulatory and reporting requirements; 13) general
economic and market conditions (including inflation, volatility in
the credit and capital markets, interest rates and foreign currency
exchange rates); 14) the integration of businesses Validus may
acquire or new business ventures Validus may start; 15) the effect
on Validus' investment portfolios of changing financial market
conditions including inflation, interest rates, liquidity and other
factors; 16) acts of terrorism or outbreak of war; and 17)
availability of reinsurance and retrocessional coverage, as well as
management's response to any of the aforementioned factors.
The foregoing review of important factors should not be
construed as exhaustive and should be read in conjunction with the
other cautionary statements that are included herein and elsewhere,
including the risk factors included in Validus' most recent reports
on Form 10-K and Form 10-Q and other documents of the Company on
file with or furnished to the U.S. Securities and Exchange
Commission (“SEC”). Any forward-looking statements made in this
press release are qualified by these cautionary statements, and
there can be no assurance that the actual results or developments
anticipated by Validus will be realized or, even if substantially
realized, that they will have the expected consequences to, or
effects on, Validus or its business or operations. Except as
required by law, the Company undertakes no obligation to update
publicly or revise any forward-looking statement, whether as a
result of new information, future developments or otherwise.
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Investors:Validus Holdings,
Ltd.Investor.Relations@ValidusHoldings.com+1-441-278-9000orMedia:Brunswick
GroupMustafa Riffat / Charlotte Connerton+1-212-333-3810
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