Montpelier Re increases quarterly dividend 60% Montpelier Re Holdings announced that its board has increased the regular quarterly dividend payable on the company’s outstanding common shares by 60%. The board also declared a quarterly dividend of 20c per common share, and a quarterly dividend of 55.4688c per 8.875% Non-Cumulative Preferred Share, Series A, each payable on or before October 15 to all shareholders of record as of September 30. The board currently intends to maintain the dividend per common share at the increased level in future periods and will consider further adjustments to its common share dividend policy periodically.
Montpelier Re upgraded to Equal Weight from Underweight at Barclays Barclays upgraded Montpelier Re to Equal Weight saying book value growth should provide support for shares. The firm raised its price target for the stock to $37 from $29.