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 new program extends through December 31, 2027, providing a substantial framework for returning capital to shareholders. The repurchases can be executed through various methods, including privately negotiated and open market transactions.
This authorization reflects the company's strong financial position and its commitment to enhancing shareholder value. Share repurchases are a key component of MGIC's capital management strategy, especially in an environment where capital levels exceed internal targets. The program allows for flexibility in capital deployment based on market conditions.
In addition to the repurchase program, the company also declared a routine quarterly cash dividend of $0.13 per share, payable on May 21, 2025. The significant share repurchase authorization underscores management's belief that current share price levels are attractive for generating long-term value for investors.
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