{"id":501487,"date":"2021-06-07T16:18:16","date_gmt":"2021-06-07T20:18:16","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/watford-announces-declaration-of-quarterly-dividend-on-preference-shares\/"},"modified":"2021-06-07T16:18:16","modified_gmt":"2021-06-07T20:18:16","slug":"watford-announces-declaration-of-quarterly-dividend-on-preference-shares","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/watford-announces-declaration-of-quarterly-dividend-on-preference-shares\/","title":{"rendered":"Watford Announces Declaration of Quarterly Dividend on Preference Shares"},"content":{"rendered":"
\n

PEMBROKE, Bermuda, June 07, 2021 (GLOBE NEWSWIRE) — Watford Holdings Ltd. (“Watford”) (Nasdaq: WTRE) announced today that on June 30, 2021, it intends to pay to holders of record as of June 15, 2021 (the “Record Date”) a quarterly dividend on its 8\u00bd% Cumulative Redeemable Preference Shares, which trade on Nasdaq under the ticker symbol “WTREP” (the “Preference Shares”).\u00a0 \u00a0<\/p>\n

From and after the calendar quarter starting July 1, 2019, at the beginning of each calendar quarter the dividend rate on the Preference Shares will be adjusted for such calendar quarter to a rate equal to the 3-month USD LIBOR on the first calendar day of the quarter (or the next business day, if such first day is not a business day) plus a margin of 6.6785%, and the dividend paid for that calendar quarter shall be based on the actual number of days in such quarter.<\/p>\n

Pursuant to their terms, Watford intends to pay a quarterly dividend (the “2Q2021 Dividend”) on the Preference Shares of $0.47859 per share on June 30, 2021 to holders of record of the Preference Shares who held such shares on the Record Date.\u00a0\u00a0<\/p>\n

PROSPECTIVE INVESTORS ARE URGED TO CONSULT THEIR OWN TAX ADVISORS CONCERNING THE U.S. FEDERAL, STATE, LOCAL AND NON-U.S. TAX CONSEQUENCES TO THEM OF ACQUIRING, HOLDING AND DISPOSING OF THE PREFERENCE SHARES BASED ON THEIR PARTICULAR CIRCUMSTANCES PRIOR TO MAKING AN INVESTMENT.<\/p>\n

\n About Watford Holdings Ltd.<\/strong>\n <\/p>\n

Watford Holdings Ltd. is a global property and casualty insurance and reinsurance company with approximately $1.202 billion in capital as of March 31, 2021, comprised of: $172.8 million of senior notes, $52.4 million of contingently redeemable preference shares and $977.0 million of common shareholders\u2019 equity, with operations in Bermuda, the United States and Europe. Its operating subsidiaries have been assigned financial strength ratings of \u201cA-\u201d (Excellent) from A.M. Best and \u201cA\u201d from Kroll Bond Rating Agency. On May 1, 2020, A.M. Best announced that it had placed under review with negative implications the financial strength ratings of Watford’s operating subsidiaries. On April 6, 2021, Kroll Bond Rating Agency maintained the Watch Developing status on the \u201cA\u201d insurance financial strength ratings of Watford’s operating subsidiaries as well as the \u201cBBB+\u201d credit rating of Watford Holdings Ltd, pending regulatory approval for the Agreement and Plan of Merger that was approved by Watford\u2019s shareholders on March 30, 2021.<\/p>\n

\n Cautionary Note Regarding\u00a0<\/strong>
\n Forward-Looking Statements<\/strong>\n <\/p>\n

\n The Private Securities Litigation Reform Act of 1995 (the \u201cPSLRA\u201d) provides a \u201csafe harbor\u201d for forward-looking statements.<\/em>\u00a0This news release contains forward-looking statements. Forward-looking statements, for purposes of the PSLRA or otherwise, generally can be identified by the words \u201cbelieves,\u201d \u201cexpects,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cestimates\u201d or similar expressions that indicate future events. These forward-looking statements include statements regarding the expected timing of the 2Q2021 Dividend. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including: uncertainties with respect to the timing of the 2Q2021 Dividend; market conditions; and other risks set forth in <\/em>the Company\u2019s Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”), and in the Company\u2019s other periodic reports filed with the SEC<\/em>. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Watford disclaims any obligation to update these forward-looking statements because of new information, future events or circumstances or other factors.<\/em><\/p>\n

\n Contact:<\/strong>\u00a0Laurence Richardson (Investor Contact):\u00a0lbr@watfordholdings.com<\/a><\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

PEMBROKE, Bermuda, June 07, 2021 (GLOBE NEWSWIRE) — Watford Holdings Ltd. (“Watford”) (Nasdaq: WTRE) announced today that on June 30, 2021, it intends to pay to holders of record as of June 15, 2021 (the “Record Date”) a quarterly dividend on its 8\u00bd% Cumulative Redeemable Preference Shares, which trade on Nasdaq under the ticker symbol “WTREP” (the “Preference Shares”).\u00a0 \u00a0 From and after the calendar quarter starting July 1, 2019, at the beginning of each calendar quarter the dividend rate on the Preference Shares will be adjusted for such calendar quarter to a rate equal to the 3-month USD LIBOR on the first calendar day of the quarter (or the next business day, if such first day is not a … <\/p>\n

Continue reading “Watford Announces Declaration of Quarterly Dividend on Preference Shares”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-501487","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nWatford Announces Declaration of Quarterly Dividend on Preference Shares - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/watford-announces-declaration-of-quarterly-dividend-on-preference-shares\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Watford Announces Declaration of Quarterly Dividend on Preference Shares - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PEMBROKE, Bermuda, June 07, 2021 (GLOBE NEWSWIRE) — Watford Holdings Ltd. 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