PHILADELPHIA, Nov. 14 /PRNewswire-FirstCall/ -- Radian Group Inc.
(NYSE: RDN) announced today that the company's Board of Directors approved
a regular quarterly dividend on its common stock in the amount of $0.02 per
share, payable on December 28, 2006, to stockholders of record as of
November 28, 2006.
Radian Group Inc. is a global credit risk management company
headquartered in Philadelphia with significant operations in both New York
and London. Radian develops innovative financial solutions by applying its
core mortgage credit risk expertise and structured finance capabilities to
the credit enhancement needs of the capital markets worldwide, primarily
through credit insurance products. The company also provides credit
enhancement for public finance and other corporate and consumer assets on
both a direct and reinsurance basis and holds strategic interests in
credit-based consumer asset businesses. Additional information may be found
at http://www.radian.biz.
All statements made in this news release that address events or
developments 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 Securities Exchange Act of 1934
and the U.S. Private Securities Litigation Reform Act of 1995. These
statements are made on the basis of management's current views and
assumptions with respect to future events. The forward-looking statements,
as well as Radian's prospects as a whole, are subject to risks and
uncertainties, including the following: changes in general financial and
political conditions such as extended national or regional economic
recessions (or expansions), changes in housing values, population trends
and changes in household formation patterns, changes in unemployment rates,
and changes or volatility in interest rates; changes in investor perception
of the strength of private mortgage insurers or financial guaranty
providers; risks faced by the businesses, municipalities or pools of assets
covered by Radian's insurance; the loss of a customer with whom Radian has
a concentration of its insurance in force; increased severity or frequency
of losses associated with certain Radian products that are riskier than
traditional mortgage insurance and municipal guaranty insurance policies;
material changes in persistency rates of Radian's mortgage insurance
policies; changes in Radian's credit ratings or the insurance
financial-strength ratings assigned by the major ratings agencies to
Radian's operating subsidiaries; heightened competition from other
insurance providers and from alternative products to private mortgage
insurance and financial guaranty insurance; changes in the charters or
business practices of Fannie Mae and Freddie Mac; the application of
federal or state consumer-lending, insurance and other applicable laws and
regulations, or unfavorable changes in these laws and regulations or the
way they are interpreted, including: (i) the possibility of private
lawsuits or investigations by state insurance departments and state
attorneys general alleging that services offered by the mortgage insurance
industry, such as captive reinsurance, pool insurance and contract
underwriting, are violative of the Real Estate Settlement Procedures Act
and/or similar state regulations (particularly in light of inquiries that
we and other mortgage insurers have received from the New York Insurance
Department and public reports that other state insurance departments are
investigating or planning to investigate captive reinsurance arrangements
used in the mortgage insurance industry), or (ii) legislative and
regulatory changes affecting demand for private mortgage insurance or
financial guaranty insurance; the possibility that we may fail to estimate
accurately the likelihood, magnitude and timing of losses in connection
with establishing loss reserves for our mortgage insurance or financial
guaranty businesses or to estimate accurately the fair value amounts of
derivative financial guaranty contracts in determining gains and losses on
these contracts; changes in accounting guidance from the SEC or the
Financial Accounting Standards Board regarding income recognition and the
treatment of loss reserves in the mortgage insurance or financial guaranty
industries; changes in claims against mortgage insurance products resulting
from the aging of Radian's mortgage insurance policies; vulnerability to
the performance of Radian's strategic investments; changes in the
availability of affordable or adequate reinsurance for our non-prime risk;
and international expansion of our mortgage insurance and financial
guaranty businesses into new markets and risks associated with our
international business activities. For more information regarding these
risks and uncertainties, as well as certain additional risks that we face,
investors should refer to the risk factors detailed in Part I, Item 1A in
our annual report on Form 10-K for the year ended December 31, 2005 and the
material changes to these risks discussed in Part II, Item 1A in our
quarterly report on Form 10-Q for the quarter ended June 30, 2006. We
caution you not to place undue reliance on these forward-looking
statements, which are current only as of the date of this news release.
Radian does not intend to and disclaims any duty or obligation to update or
revise any forward-looking statements made in this news release to reflect
new information, future events or for any other reason.
SOURCE Radian Group Inc.
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Related links:
http://www.radian.biz
CONTACT:
For investors - Mona Zeehandelaar,
+1-215-231-1674, email: mona.zeehandelaar@radian.biz; or For the
media - Corporate Communications, +1-888-NEWS-520, email:
media@radian.biz, both of Radian Group
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