Financial services companies listed on the Bermuda Stock Exchange announced share repurchases yesterday.

Butterfield Bank, in a filing with the Bermuda Stock Exchange (BSX), announced that during March purchased for Treasury 1,657,707 common shares at an average price of $1.982 per share. They did not purchase any of their eight percent Preference Shares for cancellation.

Somers Ltd also announced in a BSX filing that during last month they repurchased 495 of their own common shares at an average cost of $12 per share, and that the shares will be cancelled with immediate effect.

Somers Ltd was formerly known as Bermuda National Limited, and is a listed exempt financial services investment holding company whose major assets include its 100 percent owned subsidiary, Bermuda Commercial Bank Ltd, one of Bermuda’s four licensed banks and a 62.5 percent holding in Waverton Investment Management Limited, a UK wealth manager with over $7 billion assets under management. The Group’s other investments include an approximate 75 percent economic interest in the London Stock Exchange listed Private & Commercial Finance Group PLC, a UK asset financing company, a 84.6 percent stake in Westhouse Holdings PLC, a corporate and institutional stockbroking group and a 57.0 percent interest in BSX listed West Hamilton Holdings Ltd.

Somers has shareholders’ equity, after minority interests, of $180 million and no external debt.