Radian Group renews share repurchase program
Radian Group announced that its board of directors approved a regular quarterly dividend on its common stock in the amount of 0.25c 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 $50M, 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.