Radian Stockholders Agree to Increase in Authorized Shares

Stockholders for Radian Group Inc., the parent company of Radian Guaranty Inc., Enhance Reinsurance Company, Asset Guaranty Insurance Company and ExpressClose.com, have given approval to an increase in the company’s number of authorized shares of common stock from 80 million to 200 million, which allows the company to make a 2-for-1 split.

The company’s Board of Directors gave the go-ahead to the 2-for-1 split on May 1. The stock dividend for the split will be payable on June 20, to stockholders of record as of June 14. The Board also gave its approval to an increase in the quarterly dividend to $.02 for each share outstanding following the split. That cash dividend will be payable June 29, to stockholders of record as of June 14.

Radian’s products and services allow homebuyers to buy homes sooner and with smaller down payments, protect lenders against loan default, lower the costs of mortgage origination and servicing, along with providing insurance and reinsurance to investors in corporate, municipal and asset-backed securities.