PHILADELPHIA–(BUSINESS WIRE)–Radian Group Inc. (NYSE:RDN) announced today that its stockholders re-elected ten directors, who serve one-year terms and are elected annually. As previously disclosed, David Carney, a director of the company since 1992, retired at the end of his current term following today’s 2020 Annual Meeting and, effective upon his retirement, the size of the Board was reduced to ten directors.
In addition to the election of directors, the company’s stockholders approved all other proposals recommended by the Board of Directors and presented for vote at Radian’s 2020 Annual Meeting, including an advisory proposal to approve the compensation of Radian’s named executive officers and ratification of the appointment of PricewaterhouseCoopers LLP as the company’s independent auditors for 2020.
Radian also announced the approval by the company’s Board of Directors for a regular quarterly dividend on its common stock in the amount of $0.125 per share, payable on June 5, 2020 to stockholders of record as of May 26, 2020.
Chief Executive Officer Rick Thornberry addressed the attendees of Radian’s Annual Meeting by stating, “As a diversified mortgage and real estate services business, our products and services have responsibly helped millions of families achieve their dream of homeownership in a sustainable way for nearly 45 years. I am proud of all that we accomplished in 2019, and even prouder of our team’s ability during this unprecedented time to operate effectively, with minimal disruption to our businesses or the services we provide to our customers.”
Radian is ensuring the American dream of homeownership responsibly and sustainably through products and services that include industry-leading mortgage insurance and a comprehensive suite of mortgage, risk, title, valuation, asset management and other real estate services. We are powered by technology, informed by data and driven to deliver new and better ways to transact and manage risk. Visit www.radian.com to learn more about how Radian is shaping the future of mortgage and real estate services.
All statements in this press release that address events, developments or results that we expect or anticipate may occur in the future are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Exchange Act and the U.S. Private Securities Litigation Reform Act of 1995. In most cases, forward-looking statements may be identified by words such as “anticipate,” “may,” “will,” “could,” “should,” “would,” “expect,” “intend,” “plan,” “goal,” “contemplate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “seek,” “strategy,” “future,” “likely” or the negative or other variations on these words and other similar expressions. These statements, which may include, without limitation, projections regarding our future performance and financial condition, are made on the basis of management’s current views and assumptions with respect to future events. These statements speak only as of the date they were made, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Any forward-looking statement is not a guarantee of future performance and actual results could differ materially from those contained in the forward-looking statement. These risks and uncertainties include our ability to successfully execute and implement our capital plans and to maintain sufficient holding company liquidity to meet our liquidity needs, including our ability to consummate the recently announced public offering of senior notes, as well as the unprecedented and rapidly changing social and economic impacts associated with the COVID-19 pandemic on the U.S. and global economies generally, and in particular on the U.S. housing, real estate and housing finance markets. For more information regarding these risks and uncertainties as well as certain additional risks that we face, you should refer to “Item 1A. Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 and “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2019, and to subsequent reports and registration statements filed from time to time with the U.S. Securities and Exchange Commission. We operate in a changing environment where new risks emerge from time to time and it is not possible for us to predict all risks that may affect us.
John Damian – 215.231.1383
For the Media
Rashi Iyer – 215.231.1167