Dividends
During the third quarter of 2015, the Lancashire Board of Directors declared an interim dividend for 2015 of $0.05 (£0.03) per common share. The dividends and dividend equivalent payments, totalling $9.9 million in aggregate, were paid on 25 September 2015 to shareholders and warrant holders of record on 28 August 2015.
Special Dividend
Lancashire today announces that its Board of Directors has declared a special dividend for 2015 of $0.95 per common share (approximately £0.61 per common share at the current exchange rate), which will result in an aggregate payment of approximately $188.0 million. The dividend will be paid in Pounds Sterling on 18 December 2015 (the "Dividend Payment Date") to shareholders of record on 27 November 2015 (the "Record Date") using the £ / $ spot market exchange rate at 12 Noon London time on the Record Date.
In addition to the special dividend payment to shareholders, a dividend equivalent payment of approximately $0.5 million in aggregate will be paid on the Dividend Payment Date to holders of the remaining warrants issued by Lancashire pursuant to the terms of the warrants.
