MGIC Investment Announces Additional $500 Million Share Repurchase Program and Quarterly Dividend of $0.10 Per Share

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Apr 27, 2023, 12:30 ET

MILWAUKEE, April 27, 2023 /PRNewswire/ -- 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.

About MGIC

Mortgage Guaranty Insurance Corporation ("MGIC") (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, serves lenders throughout the United States, helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality through the use of private mortgage insurance.

From time-to-time MGIC Investment Corporation releases important information via postings on its corporate website, and via postings on MGIC's website, and it intends to continue to do so in the future. Such postings include corrections of previous disclosures and may be made without any other disclosure. Investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information for MGIC Investment Corporation alerts can be found at https://mtg.mgic.com/shareholder-services/email-alerts. For information about our underwriting and rates, see https://www.mgic.com/underwriting.

SOURCE MGIC Investment Corporation