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IPC Holdings Announces Preferred Dividend; Provides Update On Share Repurchase
Pembroke, Bermuda: January 8, 2008 -- On January 7, 2008, the Board of Directors of IPC Holdings, Ltd. (NASDAQ: IPCR) declared a preferred dividend of $0.475781 per Series A Mandatory Convertible preferred share, payable on February 15, 2008 to preferred shareholders of record on January 31, 2008.
In addition, IPC provided an update on their share repurchase activity to December 31, 2007, noting that as of that date, the Company had utilised $188.7 million of the $200 million authorisation given by the Board of Directors in April 2007, which expires on May 1, 2008.
IPC Holdings, Ltd., through its wholly-owned subsidiary IPCRe Limited, provides property catastrophe reinsurance and, to a limited extent, aviation, property-per-risk excess and other short-tail reinsurance on a worldwide basis.