Radian Declares Regular Quarterly Dividend on Common Stock and Renews Share Repurchase Authorization
August 09 2017 - 4:30PM
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 1, 2017,
to stockholders of record as of August 21, 2017.
In addition, the Board of Directors has renewed its 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 share
repurchase program expired on June 30, 2017.
The authorization provides Radian the flexibility to repurchase
shares opportunistically from time to time and spend up to $50
million, based on market and business conditions, stock price and
other factors. The authorization is effective immediately and
expires on July 31, 2018. 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 protects 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 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 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.
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 Annual Report on Form
10-K for the year ended December 31, 2016, and subsequent reports
filed from time to time with the U.S. Securities and Exchange
Commission. 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 press release. 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: http://www.businesswire.com/news/home/20170809006119/en/
Radian Group Inc.Emily Riley,
215-231-1035emily.riley@radian.biz
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