Business Context and Reporting Period
This Form 8-K/A is an amendment filed by Maiden Holdings, Ltd. on November 9, 2012, correcting information in a Current Report originally filed on November 7, 2012. Maiden Holdings is a Bermuda-based holding company focused on providing non-catastrophic, customized reinsurance products to small and mid-size insurance companies in the United States and Europe.
Key Financial Metrics
The filing primarily addresses a correction to the dividend amount for the Company's 8.25% Non-Cumulative Perpetual Preference Shares - Series A. The corrected dividend is $0.6073 per share, payable on December 17, 2012, with a record date of December 1, 2012. The filing text does not provide current period revenue, profit, cash flow, or margin data. As of September 30, 2012, the Company reported $3.9 billion in assets and $1.0 billion in shareholders' equity.
Material Changes Versus Prior Period
The material change reported is the correction of the Preference Shares - Series A dividend amount from the previously announced $0.5385 to the correct amount of $0.6073 per share. No other changes to the original filing were made.
Guidance, Outlook, and Risks
The filing contains no new guidance, outlook, or management commentary beyond the dividend correction. The Company notes that its subsidiaries are each rated "A" (excellent) by A.M. Best. No specific risks or contingencies are detailed in this amendment other than the administrative correction of the dividend figure.
Investor Verification Checklist
- Verify the corrected dividend amount of $0.6073 per share for Series A Preference Shares.
- Confirm the record date of December 1, 2012, and payment date of December 17, 2012.
- Review the original November 7, 2012 press release to understand the context of the initial error.
- Check subsequent filings for updated financial statements reflecting the $3.9 billion asset base as of September 30, 2012.