Validus authorises $750m share repurchase

The board of Bermuda-based Validus has authorised the repurchasing of $750 million of shares and increased its quarterly common share dividend to $0.32 from $0.30.

The company expects the share repurchases both in the open market or in privately negotiated transactions.

Jeff Sangster, Validus’ chief financial officer, said: “We remain committed to returning excess capital to shareholders as evidenced by this latest share repurchase authorisation and increase in common share dividend. The authorisation is open-ended without a specific completion date and the increased common share dividend will start effective with the March 2015 dividend payment.”