Validus to pay $2 special dividend
Bermuda reinsurer Validus Holdings Ltd will pay its shareholders a $2 per share special dividend at the end of this month.The company’s board of directors also decided to raise Validus’ regular quarterly dividend by 20 percent to 30 cents per share.In a third shareholder-friendly move, Validus increased its capcity to buy back its own shares by raising its share repurchase authorisation to $500 million.The special dividend is payable in cash on February 26, 2013 to shareholders and warrant holders of record as of February 19, 2013.The regular quarterly dividend which is payable on March 29, 2013 to shareholders and warrant holders of record as of March 15, 2013. This implies a yield of around 3.25 percent at the share price of $36.76 at which Validus was trading yesterday afternoon.