Insurer and investment company BF&M Ltd. has announced it will be maintaining its 20 cents per share dividend for shareholders of record at March 31, payable on April 15.

The announcement means the company will maintain the 20-cent dividend for a ninth consecutive quarter.

The news comes in a month in which two other major issuers on the BSX slashed their dividends.

Rival insurer Argus Group Holdings Ltd. slashed its dividend by 37 percent last week after the value of its stake in Butterfield Bank plunged.

Butterfield itself announced that it had suspended its dividend payments until it reaches a period of "sustained profitability".

BF&M's share price of $14.95 is down 0.7 percent this year to date, while Argus, at $7.75, is down 13.9 percent.

The two insurers have a similar dividend yield of 1.3 percent on Friday's share prices.