Fairfax Financial Holdings Ltd. has continued its series of dividend increases, raising the annual payout to US$8 a share from $5.

The US$8 a share dividend for the Toronto-based international insurance holding company and investment firm is up from $2.75 two years ago and $1.40 the year before that.

Fairfax said the annual dividend is based on its current operating results and cash positions, and “as each year’s circumstances are different, this dividend should not be regarded as indicative of the amount of any future annual dividends.”

Fairfax earned US$467.6 million or $25.27 per share in the third quarter, including $856.8 million in investment gains.

IE