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Montpelier Re lifts dividend by 10 percent

NEW YORK (AP) -- Montpelier Re, a provider of reinsurance and other insurance products, is increasing its quarterly dividend by 10 percent to 11.5 cents per share from 10.5 cents.

The Bermuda-based company said Monday that the dividend will be paid on or before Jan. 15, 2013, to shareholders of record on Dec. 31.

Shares of Montpelier Re Holdings Ltd. climbed 10 cents to $20.60 in afternoon trading.