PHILADELPHIA, Aug. 8 /PRNewswire-FirstCall/ -- Radian Group Inc. announced today that the company's Board of Directors approved a quarterly dividend on its common stock in the amount of 0.25 cents per share. This represents a reduction of 1.75 cents per share from prior quarters. "As a result of current volatility in the U.S. residential and mortgage markets, we believe this is an appropriate decision until we return to a more stable environment," said S. A. Ibrahim, Chief Executive Officer of Radian. "Our current liquidity position remains strong and this reduction will further support our position." The quarterly dividend is payable on September 19, 2008, to stockholders of record as of August 19, 2008.
Radian Group Inc. is a global credit risk management company headquartered in Philadelphia with significant operations in 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/.
