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Endurance Specialty Holdings Ltd, 7.50% Non-Cumul Preferred Shares, Series B
Ticker Symbol: ENH-B* CUSIP: G30397304 Exchange: NYSE
* NOTE: This security is no longer trading as of 6/01/2016
Security has been Called for: Wednesday, June 1, 2016
5/2/2016 -- Endurance today issued a notice to redeem on June 1, 2016 all 9,200,000 shares outstanding of its 7.50% Non-Cumulative Preferred Shares, Series B. The Series B Preferred Shares will be redeemed at a redemption price of $25.00 per share together with an amount equal to any dividends that have been declared but not paid prior to June 1, 2016. The notice to holders of the Series B Preferred Shares, specifying the terms, conditions and procedures for the redemption, is available through The Depository Trust Company and Endurance's redemption agent, Computershare Trust Company, N.A. and Computershare, Inc.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Endurance Specialty Holdings Ltd, 7.50% Non-Cumulative Preferred Shares, Series B, liquidation preference $25 per share, redeemable at the issuer's option on or after 6/1/2016 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 7.50% ($1.875) per annum are paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the 15th calendar day prior to the payment date or on the record date fixed by the board, not more than 60 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. Dividends paid by these preferred shares are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) but, since they are issued by a foreign company, are NOT eligible for the dividends received deduction for corporate holders (see page S-27 of the prospectus for further information). In regard to the payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (ENH)
IPO - 5/26/2011 - 9.20 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $230.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Foreign Address and Phone Numbers |
| Address: Wellesley House, 90 Pitts Bay Road, Pembroke HM 08, Bermuda |
| Main Phone Number |
441-278-0400 |
| Fax Number |
441-278-0401 |
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Inv Rel Phone Number
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441-278-0988 |
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