Radian Group Inc.'s Board of Directors approved a new $750 million share repurchase program for its common stock, set to expire on December 31, 2027. This new authorization significantly increases the company's total outstanding repurchase authority to approximately $863 million, including $113 million remaining under the existing program. This move reflects confidence in Radian's strong financial position and capital flexibility.
Chief Executive Officer Rick Thornberry stated that the new program underscores the company's commitment to returning capital to stockholders while pursuing growth initiatives and delivering innovative products. The repurchases can be executed through various methods, including privately negotiated transactions, open market purchases, or Rule 10b5-1 trading plans.
President and Chief Financial Officer Sumita Pandit highlighted Radian's consistent track record of shareholder returns, noting that since 2020, the company has repurchased 74 million shares for approximately $1.8 billion. This represents over 36% of shares outstanding as of January 1, 2020, demonstrating a sustained commitment to enhancing shareholder value.
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