Blue Capital Declares Quarterly Dividend on Common Shares and Will Release Its Second Quarter 2014 Results on July 25, 2014
HAMILTON, Bermuda--(BUSINESS WIRE)--Blue Capital Reinsurance Holdings Ltd. (NYSE: BCRH); (the “Company” or “Blue Capital”) has declared a quarterly dividend of $0.30 per common share, which is payable on or before July 31, 2014 to holders of record as of July 15, 2014.
The Company currently intends to distribute a minimum of 90% of its Distributable Income (as defined in its Form 10-K for the year ended December 31, 2013, as filed with the Securities and Exchange Commission on March 7, 2014), in the form of cash dividends to its common shareholders. The Company intends to make regular quarterly dividend payments for each of the first three fiscal quarters of each fiscal year, followed by a fourth “special” dividend after the end of its fiscal year to meet its dividend payout target for each fiscal year. Any future determination to pay dividends on its common shares will remain at the discretion of the Company’s board of directors and will be dependent upon many factors, including its results of operations, cash flows, financial position, capital requirements, general business opportunities, legal, tax, regulatory and contractual restrictions.
In addition, the Company expects to release its second quarter 2014 results after the market close on July 25, 2014. The Company, which commenced operations in November 2013, will not be hosting a conference call to discuss its results for this quarter.
Blue Capital, through its operating subsidiaries, offers collateralized reinsurance in the property catastrophe market and invests in various insurance-linked securities. Additional information can be found in the Company’s public filings with the Securities and Exchange Commission or at www.bcapre.bm.
This press release may contain "forward-looking" statements within the meaning of the United States federal securities laws, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, that are not historical facts, including statements about our beliefs and expectations. All forward-looking statements are based upon current plans, estimates and projections. Actual results could differ materially from those projected in any forward-looking statements, as a result of certain risk factors disclosed previously, and from time to time, in the Company’s filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.