v3.26.3
Capital Stock
 9 Months Ended
Sep. 30, 2026
Equity [Abstract]  
Capital Stock Capital Stock
 
Our authorized share capital consists of 233.3 million shares of a single class of common shares. The common shares have no preemptive rights or other rights to subscribe for additional shares, and no rights of redemption, conversion or exchange. Under certain circumstances and subject to the provisions of Bermuda law and our bye-laws, we may be required to make an offer to repurchase shares held by members. The common shares rank pari passu with one another in all respects as to rights of payment and distribution. In general, holders of common shares will have one vote for each common share held by them and will be entitled to vote, on a non-cumulative basis, at all meetings of shareholders. In the event that a shareholder is considered a 9.5% Shareholder under our bye-laws, such shareholder's votes will be reduced by whatever amount is necessary so that after any such reduction the votes of such shareholder will not result in any other person being treated as a 9.5% Shareholder with respect to the vote on such matter. Under these provisions certain shareholders may have their voting rights limited to less than one vote per share, while other shareholders may have voting rights in excess of one vote per share.

Dividends
 
The following table presents the amounts declared and paid per common share each quarter:

Quarter Ended20262025
March 31$0.35 $0.31 
June 300.35 0.31 
September 300.35 0.31 
December 31— 0.31 
Total dividends per common share declared and paid$1.05 $1.24 

In November 2026, the Board of Directors declared a quarterly cash dividend of $0.35 per common share payable on December 10, 2026 to shareholders of record on December 1, 2026.
Share Repurchase Plan
In February 2025, the Board of Directors approved a share repurchase plan that authorized the Company to repurchase $500 million of common shares in the open market through December 31, 2026. In November 2025, the Board of Directors approved a share repurchase plan that authorizes the Company to repurchase an additional $500 million of common shares in the open market through December 31, 2027. From January 1, 2026 through September 30, 2026 the Company purchased 6,934,647 common shares at a cost of $422.8 million. The shares repurchased were recorded at cost and included in treasury stock. All treasury stock has been cancelled as of September 30, 2026. In November 2026, the Board of Directors approved a share repurchase plan that authorizes the Company to repurchase an additional $500 million of common shares in the open market through December 31, 2028.