Bermuda Press (Holdings) Ltd has suspended the dividend paid to holders of its common shares for the third quarter, the company has announced.

BPH which owns The Royal Gazette, as well as a range of commercial printing, retail and real estate interests, said it made the move to preserve operating capital after it made recent acquisitions.

The company acquired Island Press Ltd, Bermuda.com Ltd and Bermuda.com Guide Ltd from MediaHouse on August 4 this year. The terms were not disclosed.

In a statement BPH said its board of directors regularly review capital allocations and it had determined that after the acquisitions, “suspending the dividend and preserving operating capital was prudent”.

The statement added: “The company’s board of directors will continue to review the company’s capital allocations and anticipates that it will reinstate the payment of a dividend on common shares in future periods.”

The suspension marks the first quarter in more than ten years that Bermuda Stock Exchange-listed BPH has not paid a dividend. Since 2009, the company has been paying a ten-cent quarterly dividend, equating to an annualised 4.6 percent yield, based on its closing share price yesterday of $8.75.