Shares of Quanta Capital Holdings Ltd. climbed to a new 52-week high on Friday after the Bermuda-based provider of specialty lines insurance declared a special cash dividend of $1.75 per share.

The dividend, which results in an aggregate payment of $122.7 million, is payable on March 28 to shareholders of record as of March 25.

Quanta shares jumped 23 percent to $3.36 on volume of 262,000 shares, outpacing its 30-day average volume of 204,000 shares.