Butterfield Bank preference shares gained two percent yesterday, as their first dividend payment date neared.

Holders of the preference shares will receive an eight percent annualised return, in the form of four quarterly dividend payments, the first of which is due next month.

In Bermuda Stock Exchange trading yesterday, the shares — which subscribers snapped up for $1,000 each in June — rose $25 to $1,250, on the trading of 318 shares.

There was also significant trading in Butterfield Bank's common stock, with 20,000 shares changing hands, as the price held steady on $5.05.

The only other domestic stock to trade was telecommunications firm KeyTech Ltd., which remained on $9 as 800 shares changed hands.

The Royal Gazette/BSX Index was unchanged on 2,305.79.

The BSX Insurance Index of the Island's leading international insurance companies rose 6.59 points, or 0.7 percent, to close on 929.84.