Extra dividend
common share dividend.
For the quarter ending March 31, 1995, common shareholders will receive a 20 cent dividend, which includes the normal 10 cent quarterly dividend plus a special additional 10 cent dividend, according to a release from the company.
Dividends will be payable April 13 to common shareholders of record March 31.
Directors also announced the regular 20 cent per share dividend on the 8% convertible preferred shares will be payable April 28 to shareholders of record April 13.
"We are very pleased with our earnings to date which are well in excess of our initial estimates when the merger of Bermuda Home and L.P. Gutteridge Mortgage & Finance was announced in March of last year,'' said Mr. Arthur Haycock, president and Chief Executive Officer of Bermuda Home.
"As a result we wanted to give our shareholders something extra, partly to compensate them for their confidence but also because Bermuda Home Ltd. only started paying dividends at the end of our second quarter in September, 1994.
Our outlook for the future is positive and we plan to continue paying dividends on a regular basis,'' he added.
SUBSCRIPTION AGREEMENT Subscription agreement Continental Management Ltd. of Bermuda has entered a subscription agreement with Braminco Mines Ltd., a Canadian mining company.
Under the agreement, subject to approval by Braminco shareholders meeting slated April 4, Continental will buy 750,000 units of Braminco stock worth $153,750.
Each unit consists of one common share in Braminco and one common share warrant.
The warrants will entitle Continental to purchase one additional common share in Braminco for 22 cents prior to December 31, 1998, according to Bloomberg business news service.
Continental is an investment counsellor that acts as agent for its clients.
Braminco, headquartered in Toronto, holds Treasury bill and other investments and has an interest in a gold prospect in Quebec.
At the April 4 meeting, shareholders will be asked to approve the sale of all that companies mining properties and interests to Young-Davidson Mines Ltd.
for $110,040.