Bermuda-based Platinum Underwriters Holdings, Ltd. announced that it has increased the authorized amount under its existing share repurchase program to a total of up to $250 million of its common shares.
“This represents an increase of approximately $103 million from the approximately $147 million remaining under the previous share repurchase program announced on July 26, 2007,” said the bulletin. “Repurchases under the program will continue to be accomplished in open market or privately negotiated transactions or otherwise, from time to time, depending on market conditions.”
The company also announced that the Board of Directors has declared a quarterly dividend of $0.08 per common share. The dividend is payable on December 31, 2007 to shareholders of record on December 3, 2007.
Source: Platinum – www.platinumre.com.
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