Radian Stockholders at Annual Meeting Re-elect Directors, Approve Executive Compensation & All Other Proposals; Company Decla...
May 13 2015 - 4:00PM
Business Wire
–Company Announces Director Retirement and
Reduction in Board Size–
Radian Group Inc. announced today that its stockholders
re-elected ten directors, who serve one-year terms and are
re-elected annually. The company’s stockholders approved all
proposals recommended by the board of directors and presented for
vote at Radian’s 2015 Annual Meeting, including an advisory
proposal on Radian’s executive compensation.
As previously disclosed, Jan Nicholson, a director of Radian
since 2003, retired from the Board upon the conclusion of Radian’s
2015 Annual Meeting. The Board was reduced from 11 to 10 members
upon Ms. Nicholson’s retirement.
“Radian has been extremely fortunate to have benefited from the
service of Jan Nicholson for more than a decade,” said Herbert
Wender, Non-Executive Chairman of Radian Group Inc. “We will miss
Jan’s sound advice, experience and diplomacy and on behalf of the
company I wish her well in her retirement.”
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 8, 2015 to
stockholders of record as of May 26, 2015.
Chief Executive Officer S.A. Ibrahim addressed the attendees of
Radian’s Annual Meeting by stating, “Over the past several years,
our vision for Radian has focused on leading our company out of the
downturn by writing strong volumes of profitable mortgage insurance
business and positioning our company for future growth and success.
We made significant progress in 2014 against both of these
priorities.”
Ibrahim added, “Looking ahead, we expect to benefit from the
strong credit quality and projected earnings power of our existing
mortgage insurance book of business and, longer term, to leverage
our new mortgage and real estate services capabilities in order to
serve the entire mortgage finance market.”
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.
FORWARD-LOOKING STATEMENTS
Some of the statements in this press release may constitute
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities and
Exchange Act of 1934 and the United States Private Securities
Litigation Reform Act of 1995. Words such as "will," "expects,"
"believes" and similar expressions are used to identify these
forward-looking statements. These forward-looking 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. 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 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. We operate
in a changing environment. New risks emerge from time to time and
it is not possible for us to predict all risks that may affect us.
For more information regarding these risks and uncertainties as
well as certain additional risks that we face, you should refer to
the Risk Factors detailed in Item 1A of Part I of our Annual Report
on Form 10-K for the year ended December 31, 2014, Item 1A of Part
II of our Quarterly Report on Form 10-Q filed in 2015, and
subsequent reports and registration statements filed from time to
time with the Securities and Exchange Commission.
Radian Group Inc.Emily Riley,
215-231-1035emily.riley@radian.biz
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