PHILADELPHIA--(BUSINESS WIRE)--Radian Group Inc. (NYSE: RDN) 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 6, 2019, to stockholders of record as of August 26, 2019.
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 $250 million share repurchase program was fully utilized on July 23, 2019.
The new authorization provides Radian the flexibility to repurchase shares opportunistically from time to time and spend up to $200 million, based on market and business conditions, stock price and other factors. The authorization is effective immediately and expires on July 31, 2020. 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.
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.