MGIC Investment Unveils $750M Share Buyback Program and Quarterly Dividend

Key Facts

1MGIC Investment Corporation's board approved an additional share repurchase program for up to $750 million of common stock.

2The company announced a quarterly cash dividend of $0.15 per share.

3The share repurchase authorization is valid through December 31, 2028.

MGIC Investment Corporation (MTG) has announced that its board of directors approved a new share repurchase program authorizing the buyback of up to $750 million of common stock. This additional authorization is set to remain valid through December 31, 2028, providing a long-term framework for capital return. In addition to the buyback, the company declared a quarterly cash dividend of $0.15 per share for its investors. These capital allocation measures signal management's commitment to returning value to shareholders through multiple channels. The $750 million buyback is particularly significant for a mid-cap firm, likely providing support for earnings per share (EPS) growth. Overall, the move underscores the company's robust balance sheet and confidence in its future cash flow generation.