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.
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.