AP: Platinum increases share repurchase plan by $46m
Bermuda-based Platinum Underwriters Holdings Ltd. has increased its share repurchase programme by $46 million.
The company announced this week it would raise the authorised amount under its existing share repurchase programme to a total of up to $250 million of its common shares, from the approximately $204 million remaining in the programme.
Repurchases under the programme may be made in open market or privately negotiated transactions or otherwise, from time to time, depending on market conditions.
The company's directors also declared a quarterly dividend of $0.08 per common share. The dividend is payable on December 31, 2008 to shareholders of record on December 1, 2008.
