MGIC Investment Corporation's board of directors approved an additional share repurchase program, authorizing the purchase of up to $750 million of its common stock. This program allows the company to repurchase shares through various transactions, including privately negotiated deals and open market purchases. The authorization is valid until December 31, 2027.
This significant share repurchase program indicates the company's strong financial position and its commitment to returning capital to shareholders. Such programs can reduce the number of outstanding shares, potentially increasing earnings per share and shareholder value. The program may be suspended or discontinued at any time, and does not obligate the company to acquire any specific amount of common stock.
In addition to the repurchase program, the board also declared a quarterly cash dividend of $0.13 per share. This dividend is payable on May 21, 2025, to shareholders of record as of May 8, 2025. The dividend declaration is a routine distribution, complementing the larger capital return initiative.
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