SiriusPoint announces a quarterly cash dividend of $0.50 per share for Series B preference shareholders, payable by February 28, 2025.
Quiver AI Summary
SiriusPoint Ltd. has announced the approval of a quarterly cash dividend of $0.50 per share on its Series B 8.00% Resettable Fixed Rate Preference Shares. The dividend will be payable on or before February 28, 2025, to shareholders of record as of February 13, 2025. SiriusPoint, a global specialty insurer and reinsurer headquartered in Bermuda, operates in various locations including New York and London, and holds licenses to write Property & Casualty and Accident & Health insurance globally. The company has a strong financial position with over $3.0 billion in capital and received high ratings from major agencies such as AM Best and Moody’s.
Potential Positives
- Approval of a quarterly cash dividend of $0.50 per share enhances shareholder value and demonstrates the company's commitment to returning capital to investors.
- The dividend payment underscores SiriusPoint's financial stability and operational performance, as indicated by its strong capital position with over $3.0 billion total capital and an A- (Stable) financial strength rating from key rating agencies.
- Being listed on the New York Stock Exchange (SPNT) reinforces the company’s visibility and credibility in the market, which can attract further investment and expand shareholder base.
Potential Negatives
- The announcement of a cash dividend may signal a lack of reinvestment opportunities within the company, raising concerns about future growth prospects.
- The decision to pay a dividend could be viewed as a sign of financial strain, especially if it is perceived that the company needs to reassure investors to maintain shareholder interest.
- The focus on dividends rather than expanding operational capabilities or strategic partnerships may indicate a shift away from aggressive growth strategies, potentially affecting long-term performance.
FAQ
What is SiriusPoint's recent dividend announcement?
SiriusPoint has announced a quarterly cash dividend of $0.50 per share on its Series B preference shares.
When will the dividend be paid to shareholders?
The dividend will be payable on or prior to February 28, 2025, to shareholders of record as of February 13, 2025.
What is the financial strength rating of SiriusPoint?
SiriusPoint's operating companies have a financial strength rating of A- (Stable) from AM Best, S&P, and Fitch.
Where is SiriusPoint headquartered?
SiriusPoint is headquartered in Bermuda with additional offices in New York, London, and Stockholm.
How can I find more information about SiriusPoint?
You can find more information on SiriusPoint's website at www.siriuspt.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SPNT Insider Trading Activity
$SPNT insiders have traded $SPNT stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $SPNT stock by insiders over the last 6 months:
- EVAN CABAT sold 2,000 shares for an estimated $28,860
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SPNT Hedge Fund Activity
We have seen 69 institutional investors add shares of $SPNT stock to their portfolio, and 80 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- WELLINGTON MANAGEMENT GROUP LLP removed 1,372,591 shares (-12.2%) from their portfolio in Q3 2024, for an estimated $19,682,954
- MORGAN STANLEY added 1,180,216 shares (+84.6%) to their portfolio in Q3 2024, for an estimated $16,924,297
- BLACKROCK, INC. added 741,728 shares (+5.2%) to their portfolio in Q3 2024, for an estimated $10,636,379
- INVESCO LTD. added 632,994 shares (+29.7%) to their portfolio in Q3 2024, for an estimated $9,077,133
- DIMENSIONAL FUND ADVISORS LP added 604,674 shares (+9.0%) to their portfolio in Q3 2024, for an estimated $8,671,025
- ASSENAGON ASSET MANAGEMENT S.A. removed 385,243 shares (-91.5%) from their portfolio in Q4 2024, for an estimated $6,314,132
- AMERICAN CENTURY COMPANIES INC added 336,226 shares (+16.1%) to their portfolio in Q3 2024, for an estimated $4,821,480
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
HAMILTON, Bermuda, Jan. 29, 2025 (GLOBE NEWSWIRE) -- SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE: SPNT), a global specialty insurer and reinsurer, has today announced that the Audit Committee of the Board of Directors of SiriusPoint Ltd. has 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 or prior to February 28, 2025 to Series B shareholders of record as of February 13, 2025.
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 and Program Administrators. With over $3.0 billion total capital, SiriusPoint’s operating companies have a financial strength rating of A- (Stable) from AM Best, S&P and Fitch, and A3 (Stable) from Moody’s. For more information please visit www.siriuspt.com.
Contacts
Investor Relations
Liam Blackledge, SiriusPoint
Liam.Blackledge@siriuspt.com
+ 44 203 772 3082
Media
Sarah Hills, Rein4ce
Sarah.Hills@rein4ce.co.uk
+ 44 7718 882011
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