Radian Group (RDN)

[Enterprising Investor]

Radian Stockholders at Annual Meeting Re-elect Directors, Approve Executive Compensation and All Other Proposals; Company Declares Regular Quarterly Dividend on Common Stock (5/15/13)

PHILADELPHIA--(BUSINESS WIRE)--Radian Group Inc. announced today that its stockholders re-elected eleven directors, who serve one-year terms and are re-elected annually. The company’s stockholders also approved all of the Board of Directors’ recommendations presented for vote at Radian’s 2013 Annual Meeting, including an annual advisory vote on Radian’s executive compensation, an increase in the company’s authorized shares of common stock from 325 million to 485 million, and a re-approval of each primary component of Radian’s tax benefit preservation strategy.

Radian also announced that the company’s Board of Directors approved a regular quarterly dividend on its common stock in the amount of $0.0025 per share, payable on June 5, 2013, to stockholders of record as of May 28, 2013.

Chief Executive Officer S.A. Ibrahim addressed the attendees of Radian’s Annual Meeting by stating, “Thanks to the determination and dedication of the Radian team, we wrote an increasing volume of new mortgage insurance business each consecutive quarter in 2012, and ended the year with more than double the amount of business we wrote in 2011. In March this year, we successfully completed a capital raise with net proceeds of $689 million. We now expect to maintain a risk-to-capital ratio for Radian Guaranty of 20 to 1 or below for the foreseeable future, while also preserving a strong level of holding company liquidity.”

Ibrahim added, “Today, our immediate priority is to write as much new, high-quality business as possible, as the FHA pulls back and as the housing market recovers, which is expected to fuel our growth and position Radian for a return to operating profitability. We believe Radian is in a strong position to continue promoting and preserving low downpayment lending while continuing to build stockholder value.”

About Radian

Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia, provides private mortgage insurance and related risk mitigation products and services to mortgage lenders nationwide through its principal operating subsidiary, Radian Guaranty Inc. These services help promote and preserve homeownership opportunities for homebuyers, while protecting lenders from default-related losses on residential first mortgages and facilitating the sale of low-downpayment mortgages in the secondary market. Additional information may be found at www.radian.biz.

http://www.businesswire.com/news/home/20130515006804/en/Radian-Stockholders-Annual-Meeting-Re-elect-Directors-Approve