Transatlantic Holdings declares stock split, increases cash dividend

After Thursday's closing bell, the Board of Directors of Transatlantic Holdings, Inc. (NYSE:TRH) announced approval of a 3- for-2 common stock split, payable in the form of a 50 percent stock dividend. The payable date is set for July 20 for shareholders of record on June 29, 2001. As the company's second stock split, the outstanding shares will effectively be increasing to approximately 52 million shares. Currently there is a float of 7.3 million shares and 100 million shares are authorized for issuance.

Transatlantic will also be increasing the quarterly common stock dividend by 7 percent to $0.096 per share (post split). Stockholders of record on September 7, 2001 will receive dividends on the payable date of September 14, 2001.

This SplitTrader candidate closed up +0.56 to a new 52-week high of $115.26 on Thursday. We'll watch for lucrative play opportunities if volume is able to pick up during the split run, so please check back for updates.

About the Company

Transatlantic Holdings, Inc. (TRH) is a leading international reinsurance organization headquartered in New York, with operations also based in Chicago, Toronto, Miami (serving Latin America and the Caribbean), Buenos Aires, Rio de Janeiro, London, Paris, Zurich, Warsaw, Johannesburg, Sydney, Hong Kong, Shanghai and Tokyo. TRH has consolidated assets of $5.9 billion and stockholders' equity of $1.9 billion. (company press release)

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