Shares of Butterfield Bank tumbled $1.50, or 6.1 per cent, to $23 after 3,000 traded on The Royal Gazette/BSX Index.

On the New York Stock Exchange, the bank’s shares were down 71 cents, or 3.19 per cent, at $21.55.

On the local exchange, shares of Somers Limited fell 50 cents, or 3.7 per cent, to $13 after 2,800 were exchanged.

The Royal Gazette/BSX Index was down 70.79 points, or 3.93 per cent, at 1,731.44, while the BSX Index was down 14.67 points, or 1.09 per cent, at 1,335.83.

Separately, the directors of Polaris Holding Company Ltd, in a statement said they had unanimously resolved to defer payment of a proposed dividend to the shareholders of record as at September 25, payable on September 30.

The statement said: “With second quarter outcomes even lower than projections, particularly in Stevedoring Services Limited, the board agreed to continue to defer the dividend and continue its ongoing evaluation of the impact of Covid-19 during this fiscal year.”