PHILADELPHIA--(BUSINESS WIRE)--Radian Group Inc. announced today that its stockholders re-elected ten directors, who serve one-year terms and are re-elected annually. The company’s stockholders approved all proposals recommended by the Board of Directors and presented for vote at Radian’s 2017 Annual Meeting, including an advisory proposal to approve the compensation of Radian’s named executive officers, a proposal to conduct annual advisory votes to approve the compensation of Radian’s named executive officers, a proposal to approve the amended and restated Radian Group Inc. Equity Compensation Plan and ratification of the appointment of PricewaterhouseCoopers LLP as the company’s independent auditors for 2017.
Radian also announced 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 June 5, 2017 to stockholders of record as of May 22, 2017.
Chief Executive Officer Rick Thornberry addressed the attendees of Radian’s Annual Meeting by stating, “Last year, we wrote the highest volume of new flow mortgage insurance business in Radian’s history, which helped fuel the growth in our insurance in force portfolio. And this year, we are celebrating an important milestone: 40 years of helping families achieve their dream of sustainable homeownership.”
Thornberry added, “Looking ahead, we will leverage our core expertise in credit risk management and mortgage and real estate services to deliver the products and services our customers need to succeed, and to create long-term value for our stockholders.”
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.
Some of the statements in this press release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities and Exchange Act of 1934 and the United States Private Securities Litigation Reform Act of 1995. Words such as "will," "expects," "believes" and similar expressions are used to identify these forward-looking statements. These forward-looking 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. New risks emerge from time to time and it is not possible for us to predict all risks that may affect us. 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 and registration statements filed from time to time with the Securities and Exchange Commission.