WAYNE, Pa.–(BUSINESS WIRE)–May 22, 2024– Radian Group Inc. (NYSE: RDN) announced its Board of Directors has approved an increase in its existing share repurchase program from $300 million to $900 million and a program extension to June 30, 2026.
This expanded authorization will allow Radian the flexibility to repurchase an additional $600 million of shares based on market and business conditions, stock price and other factors, through privately negotiated, open market or other transactions (including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended). As of March 31, 2024, approximately 7 million shares for a total cost of $183 million, have been repurchased under this program, which was previously set to expire on January 31, 2025.
“We are pleased that our strong financial position and capital flexibility allow us to support our growth initiatives, deliver innovative products and provide best-in-class service to our customers, while also opportunistically returning value to our stockholders,” said Chief Executive Officer Rick Thornberry.
The company’s Board of Directors also approved a regular quarterly dividend on its common stock in the amount of $0.245 per share, payable June 20, 2024, to stockholders of record as of June 4, 2024.
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, securitization, and title services. Powered by technology, informed by data and driven to deliver new and better ways to transact and manage risk, Radian is shaping the future of mortgage and real estate services. Learn more at radian.com.
