Dividend Declaration
Lancashire Holdings Limited
10 December 2007
Lancashire Holdings Limited
10 December 2007
Dividend Declaration
The Board of Lancashire Holdings Limited (the 'Company') is pleased to announce
that it has declared a strategic dividend of $1.10 per common share and warrant
(approximately £0.54 per share and warrant at the current exchange rate) making
an aggregate total payment of approximately $242 million.
Ex dividend date: 9 January 2008
Record date: 11 January 2008
Payment date: 16 January 2008
Richard Brindle, Chief Executive Officer of the Company, said: 'We are committed
to disciplined underwriting and to managing capital in an intelligent and
prudent manner. In 2007 to date, we have generated more capital than we
anticipated and this has resulted in capital levels in excess of that needed for
the underwriting opportunities ahead. It is appropriate that we now return
capital to shareholders in addition to the share repurchase programme previously
announced. Looking ahead into 2008, we are confident trading conditions are such
that Lancashire can continue to generate attractive returns for shareholders.'
For further information, please contact:
Lancashire Holdings Limited +1 441 278 8950
Neil McConachie
Greg Lunn
Financial Dynamics +44 20 7269 7200
Rob Bailhache
Nick Henderson
Kekst & Company Inc.
Michael Herley +1 212 521 4897
Mark Semer +1 212 521 4802
About Lancashire
Lancashire, through its UK and Bermuda-based insurance subsidiaries, is a global
provider of specialty insurance products. Its insurance subsidiaries carry the
Lancashire group rating of A minus (Excellent) from A.M. Best with a stable
outlook. Lancashire has capital in excess of $1 billion dollars and its Common
Shares trade on AIM under the ticker symbol LRE. Lancashire is headquartered at
Mintflower Place, 8 Par-La-Ville Road, Hamilton HM 08, Bermuda. The mailing
address is Lancashire Holdings Limited, P.O. Box HM 2358, Hamilton HM HX,
Bermuda. For more information on Lancashire, visit the company's website at
www.lancashiregroup.com.
NOTE REGARDING FORWARD-LOOKING STATEMENTS
CERTAIN STATEMENTS MADE IN THIS ANNOUNCEMENT THAT ARE NOT BASED ON CURRENT OR
HISTORICAL FACTS ARE FORWARD-LOOKING IN NATURE INCLUDING, WITHOUT LIMITATION,
STATEMENTS CONTAINING WORDS 'BELIEVES', 'ANTICIPATES', 'PLANS', 'PROJECTS',
'INTENDS', 'EXPECTS', 'ESTIMATES', 'PREDICTS', 'MAY','WILL', 'SEEKS', 'SHOULD'
OR, IN EACH CASE, THEIR NEGATIVE OR COMPARABLE TERMINOLOGY. ALL STATEMENTS
OTHER THAN STATEMENTS OF HISTORICAL FACTS INCLUDING, WITHOUT LIMITATION, THOSE
REGARDING THE GROUP'S FINANCIAL POSITION, RESULTS OF OPERATIONS, LIQUIDITY,
PROSPECTS, GROWTH, BUSINESS STRATEGY, PLANS AND OBJECTIVES OF MANAGEMENT FOR
FUTURE OPERATIONS (INCLUDING DEVELOPMENT PLANS AND OBJECTIVES RELATING TO THE
GROUP'S INSURANCE BUSINESS) ARE FORWARD-LOOKING STATEMENTS. SUCH FORWARD-
LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER
IMPORTANT FACTORS THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR
ACHIEVEMENTS OF THE GROUP TO BE MATERIALLY DIFFERENT FROM FUTURE RESULTS,
PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING
STATEMENTS. THESE FORWARD-LOOKING STATEMENTS SPEAK ONLY AS AT THE DATE OF THIS
ANNOUNCEMENT OR OTHER INFORMATION CONCERNED. LANCASHIRE HOLDINGS LIMITED
EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING (SAVE AS REQUIRED TO COMPLY
WITH ANY LEGAL OR REGULATORY OBLIGATIONS (INCLUDING THE AIM RULES)) TO
DISSEMINATE ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING STATEMENTS
CONTAINED HEREIN TO REFLECT ANY CHANGES IN THE GROUP'S EXPECTATIONS WITH REGARD
THERETO OR ANY CHANGE IN EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH ANY SUCH
STATEMENT IS BASED.
This information is provided by RNS
The company news service from the London Stock Exchange
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