MGIC Investment Corporation (NYSE:MTG) announced its board of directors has approved an additional share repurchase program with authorization to purchase up to $500 million of its common stock.
The company is authorized to repurchase shares of its common stock from time to time 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) at any time prior to July 1, 2025. The share repurchase program may be suspended or discontinued at any time and does not require the company to acquire any amount of common stock.
The company also announced that its board of directors declared a quarterly cash dividend of $0.10 per share payable on May 25, 2023 to shareholders of record as of May 11, 2023.
As previously announced, the company will hold a conference call/webcast on Thursday, May 4, 2023 to discuss the results for the quarter ended March 31, 2023.
