PEMBROKE, Bermuda - Fidelis Insurance Holdings Limited (NYSE:FIHL), a global specialty insurer, has announced the launch of a dividend program, with the first quarterly payment of $0.10 per share scheduled for March 29, 2024. Shareholders on record as of March 15, 2024, will be eligible for the dividend.
The initiation of the dividend program comes after a year marked by significant strategic advancements, which have strengthened the company's balance sheet. CEO Dan Burrows expressed confidence in Fidelis's continued growth prospects and a commitment to shareholder returns, citing the favorable market conditions and the company's recent $50 million share repurchase program.
Fidelis operates in the Specialty, Bespoke, and Reinsurance segments, aiming to capitalize on the dynamic (re)insurance market and to shift its business mix in response to market cycles. The Bermuda-headquartered insurer, with offices globally, maintains an A- (Excellent) financial strength rating from major rating agencies including AM Best, S&P, and Fitch.
While this dividend announcement is a forward-looking statement, the company cautions that such statements involve risks and uncertainties that may cause actual results to differ materially. These forward-looking statements are based on management's current expectations and are not guarantees of future performance.
Investors are advised to review the company's filings with the SEC, including the 'Risk Factors' detailed in Fidelis Insurance Holdings Limited's final IPO prospectus filed on June 30, 2023, and subsequent filings, for a better understanding of the risks and uncertainties associated with such statements.
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