BF&M Ltd has announced an increase in the quarterly dividend, for declaration on June 28, 2019, from 22 cents per share to 24 cents per share, payable to shareholders on July 15, 2019.

John Wight, the insurer’s chief executive officer, said: “In reflection of the company’s strong financial performance for the year ended 2018 and the strength of our capital position, the board has elected to increase the quarterly dividend by 9 per cent.”

BF&M shares last traded at $15.05 on the Bermuda Stock Exchange. At that price, the newly raised dividend will represent a 6.37 per cent annualised yield.