Radian Announces Enhanced Commitment to Return Capital to Stockholders
13 Février 2020 - 2:11PM
Business Wire
Based on strong financial position and capital
flexibility, company increases cash dividend and share repurchase
authorization
Radian Group Inc. (NYSE:RDN) announced today that based on the
company’s strong financial position and capital flexibility, which
has increased over the past several years due to excellent
financial performance and active capital management, its Board of
Directors has approved the following:
- An increase to the company’s quarterly cash dividend from
$.0025 to $0.125 per share. The Board approved this increase
effective for Radian’s current quarterly dividend, which is payable
March 6, 2020, to stockholders of record as of February 24,
2020.
- An increase to the company’s existing share repurchase
authorization from $200 million to $475 million, and a program
extension to August 2021. As of February 12, 2020, approximately
3.1 million shares for a total cost of $73.2 million, including
commissions, have been repurchased under this program, leaving
$401.8 million in share repurchase authority remaining. Similar to
previous programs, Radian plans to utilize a Rule 10b5-1 plan to
execute a portion or all of the authorization, which permits the
company to purchase shares, at pre-determined price targets, when
it may otherwise be precluded from doing so.
Chief Executive Officer Rick Thornberry commented, “I am pleased
that the actions we have taken over the past several years to
strengthen our financial position and increase our capital
flexibility, coupled with Radian’s outstanding financial
performance, enable us to continue to return capital to
stockholders through share repurchases and an increased
dividend.”
About Radian
Radian is ensuring the American dream of homeownership
responsibly and sustainably through products and services that
include industry-leading mortgage insurance and a comprehensive
suite of mortgage, risk, real estate, and title services. We are
powered by technology, informed by data and driven to deliver new
and better ways to transact and manage risk. Learn more about
Radian’s financial strength and flexibility at www.radian.biz and visit www.radian.com to see how Radian is shaping the
future of mortgage and real estate services.
Forward-Looking Statements
All statements in this press release 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.
Our ability and willingness to declare future dividends and to
repurchase shares under the proposed repurchase program are subject
to risks and uncertainties including, without limitation: our
ability to successfully execute and implement our capital plans and
to maintain sufficient holding company liquidity to meet our
liquidity needs; our ability to successfully execute and implement
our business plans and strategies; our ability to maintain an
adequate level of capital in our insurance subsidiaries to satisfy
existing and future regulatory requirements; changes in economic,
market and political conditions that, among other things, may
affect our capital resources, liquidity and financial resources.
For more information regarding these risks and uncertainties as
well as other additional risks that we face, you should refer to
the Risk Factors detailed in Item 1A of our Annual Report on Form
10-K for the year ended December 31, 2018, and subsequent reports
filed from time to time with the U.S. Securities and Exchange
Commission.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200213005461/en/
For Investors: John Damian – Phone:
215.231.1383 Email: john.damian@radian.com
For the Media: Rashi Iyer – Phone:
215.231.1167 Email: rashi.iyer@radian.com
Radian (NYSE:RDN)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Radian (NYSE:RDN)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024