NU Online News Service, May 19, 3:05 p.m. EDT
RenaissanceRe Holdings, Ltd. announced a quarterly dividend of $0.25 per common share on its common stock.
The company said the dividend is payable on June 30 to shareholders of record on June 15, 2010.
In addition, the Pembroke, Bermuda-based global insurer and reinsurer said its board of directors approved an increase in RenaissanceRe's stock repurchase program, bringing the total current authorization to an aggregate of $500 million.
Under the stock repurchase program, RenaissanceRe said it may repurchase shares of its common stock in the open market based on, among other things, its ongoing capital requirements and expected cash flows as well as the market price of its common shares.
RenaissanceRe said the repurchase program does not have an established expiration date.
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