Radian Declares Regular Quarterly Dividend on Common Stock and Approves New Share Repurchase Authorization
16 Août 2018 - 12:30PM
Business Wire
Radian Group Inc. announced today that the company’s Board of
Directors approved a regular quarterly dividend on its common stock
in the amount of $0.0025 per share, payable on September 7, 2018,
to stockholders of record as of August 27, 2018.
In addition, the Board of Directors has approved a new share
repurchase program that enables the company to repurchase its
common stock. The shares may be purchased in the open market or in
privately negotiated transactions. The company’s previous $50
million share repurchase program was fully utilized and expired on
June 30, 2018.
The new authorization provides Radian the flexibility to
repurchase shares opportunistically from time to time and spend up
to $100 million, based on market and business conditions, stock
price and other factors. The authorization is effective immediately
and expires on July 31, 2019. Radian plans to utilize a Rule 10b5-1
plan, which would permit the company to purchase shares, at
pre-determined price targets, when it may otherwise be precluded
from doing so.
ABOUT RADIAN
Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia,
provides private mortgage insurance, risk management products and
real estate services to financial institutions. Radian offers
products and services through two business segments:
- Mortgage Insurance, through its
principal mortgage insurance subsidiary Radian Guaranty Inc. This
private mortgage insurance helps protect lenders from
default-related losses, facilitates the sale of low-downpayment
mortgages in the secondary market and enables homebuyers to
purchase homes more quickly with downpayments less than 20%.
- Mortgage and Real Estate
Services, through its principal services subsidiary Clayton, as
well as Entitle Direct, Green River Capital, Red Bell Real Estate
and ValuAmerica. These solutions include information and services
that financial institutions, investors and government entities use
to evaluate, acquire, securitize, service and monitor loans and
asset-backed securities.
Additional information may be found at www.radian.biz.
FORWARD-LOOKING STATEMENTS
All statements in this report that address events, developments
or results that we expect or anticipate may occur in the future are
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Exchange Act and the
U.S. Private Securities Litigation Reform Act of 1995. In most
cases, forward-looking statements may be identified by words such
as “anticipate,” “may,” “will,” “could,” “should,” “would,”
“expect,” “intend,” “plan,” “goal,” “contemplate,” “believe,”
“estimate,” “predict,” “project,” “potential,” “continue,” “seek,”
“strategy,” “future,” “likely” or the negative or other variations
on these words and other similar expressions. These statements,
which may include, without limitation, projections regarding our
future performance and financial condition, are made on the basis
of management’s current views and assumptions with respect to
future events. Any forward-looking statement is not a guarantee of
future performance and actual results could differ materially from
those contained in the forward-looking statement. These statements
speak only as of the date they were made, and we undertake no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
We operate in a changing environment where new risks emerge from
time to time and it is not possible for us to predict all risks
that may affect us. The forward-looking statements, as well as our
prospects as a whole, are subject to risks and uncertainties that
could cause actual results to differ materially from those set
forth in the forward-looking statements. These risks and
uncertainties include, without limitation, changes in general
economic and market conditions and factors that may affect the
Company’s ability and willingness to repurchase shares under the
proposed repurchase program and the possibility that the program
may be suspended or terminated.
For more information regarding these risks and uncertainties as
well as certain additional risks that we face, you should refer to
the Risk Factors detailed in Item 1A of our 2017 Form 10-K, and to
subsequent reports filed from time to time with the SEC. We caution
you not to place undue reliance on these forward-looking
statements, which are current only as of the date on which we
issued this report. We do not intend to, and we disclaim any duty
or obligation to, update or revise any forward-looking statements
to reflect new information or future events or for any other
reason.
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version on businesswire.com: https://www.businesswire.com/news/home/20180816005077/en/
Radian Group Inc.Emily Riley,
215-231-1035emily.riley@radian.biz
Radian (NYSE:RDN)
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