4 unchanged sentences
As of February 26, 2024, there were 4 holders of record of our common shares.
−Removed: We paid quarterly dividends of $0.05 per common share in 2022, and $0.30 per common share from 2017 to the fourth quarter of 2021.
+Added: A substantially greater number of holders of common shares are “street name” or beneficial holders, whose shares of record are held by banks, brokers, and other financial institutions.
+Added: We paid quarterly dividends of $0.05 per common share in 2023 and 2022, and $0.30 per common share from 2017 to the fourth quarter of 2021.
On February 15, 2024, the Board of Directors declared a cash dividend of $0.05 per common share.
6 unchanged sentences
Dividends accrue and are payable quarterly.
−Removed: During 2022, cash dividends of $8.8 million were declared, of which $2.6 million was payable at December 31, 2022.
+Added: For the years ended December 31, 2023 and 2022, cash dividends of $10.5 million and $8.8 million were declared, respectively, of which $2.6 million was payable at December 31 of both years.
On February 15, 2024, the Board of Directors declared a quarterly dividend on the Series A Preferred Shares.
−Removed: The dividend of $2.6 million will be payable in cash on March 31, 2023 to shareholders of record on March 15, 2023.
+Added: The dividend of $2.6 million will be payable in cash on April 1, 2024 to shareholders of record on March 15, 2024.
The Certificate of Designations setting forth the terms of the Series A Preferred Shares limits our ability to pay dividends to our common shareholders.
1 unchanged sentence
Additionally, the payment of cash dividends in excess of $0.10 per common share per quarter is not permitted if the dividends on the Series A Preferred Shares for that quarter are not paid in cash, unless the Company’s U.S.-based insurance subsidiaries and direct Bermuda-based insurance subsidiary satisfy certain capital requirements.
−Removed: Share dividends payable on the common shares to our shareholders also trigger a reduction of the conversion price applicable to the Series A Preferred Shares.
We are a holding company that has no substantial operations of our own, and we rely primarily on cash dividends or distributions from our subsidiaries to pay our operating expenses and dividends to shareholders.
14 unchanged sentences
Performance Graph
−Removed: The graph below compares the cumulative 5-Year total shareholder return of our common shares relative to the cumulative total returns of the Russell 2000 index and a selected peer group of six companies that includes Amerisafe, Inc., Argo Group International Holdings, Ltd, Kinsale Capital Group, Inc., Markel Corporation, RLI Corp.
+Added: The graph below compares the cumulative 5-Year total shareholder return of our common shares relative to the cumulative total returns of the Russell 2000 index, the S&P 500 Property and Casualty Insurance index, and a selected peer group of six
+Added: companies that includes Amerisafe, Inc., Argo Group International Holdings, Ltd, Kinsale Capital Group, Inc., Markel Corporation, RLI Corp.
Berkley Corporation.
+Added: We have elected to replace our selected peer group with the S&P P&C Index to be more consistent with the index used by many of our industry peers in preparing the performance graph in their Annual Report on Form 10-K.
The companies in the peer group are weighted by market capitalization.
1 unchanged sentence
Such returns are based on historical results and are not intended to suggest future performance.
+Added: Copyright© 2024 Standard & Poor's, a division of S&P Global.
+Added: All rights reserved.
Copyright© 2024 Russell Investment Group.
4 unchanged sentences
Russell 2000 100.00 125.52 150.58 172.90 137.56 160.85
+Added: S&P Property & Casualty Insurance 100.00 125.87 134.63 160.58 190.89 211.53
Peer Group 100.00 123.05 127.17 151.85 176.72 188.64
−Removed: The performance graph and related information shall not be deemed “soliciting material” or to be “filed” with the SEC for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or the Exchange Act, or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any future filing under the Securities Act of 1933, as amended, or the Exchange Act, except to the extent that we specifically incorporate it by reference into such filing.
+Added: The performance graph and related information shall not be deemed “soliciting material” or to be “filed” with the SEC for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or the Exchange Act, or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any future filing under the Securities
+Added: Act of 1933, as amended, or the Exchange Act, except to the extent that we specifically incorporate it by reference into such filing.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.