Note 13 - Capital Stock (Notes)

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Capital Stock

Share Repurchase Program

On August 16, 2018, Radian Group’s board of directors approved a share repurchase program that authorized the Company to repurchase up to $100 million of its common stock in the open market or in privately negotiated transactions, based on market and business conditions, stock price and other factors. On March 20, 2019, Radian Group’s board of directors approved a $150 million increase in authorization for this program, bringing the total authorization to repurchase shares up to $250 million, excluding commissions. Radian operated this program pursuant to a trading plan under Rule 10b5-1 of the Exchange Act, which permitted the Company to purchase shares, at pre-determined price targets, when it may have otherwise been precluded from doing so. During the three and nine months ended September 30, 2019, the Company purchased 2,241,568 and 11,258,574 shares at an average price of $23.43 and $22.22 per share, respectively, including commissions. As of September 30, 2019, no further purchase authority remains under this program. Over the course of this program, the Company repurchased a total of 11,258,574 shares, or 5.3% of the shares outstanding at the beginning of the program.

On August 14, 2019, Radian Group’s board of directors approved a new share repurchase program that authorizes the Company to spend up to $200 million, excluding commissions, to repurchase Radian Group common stock in the open market or in privately negotiated transactions, based on market and business conditions, stock price and other factors. Radian operates this program pursuant to a trading plan under Rule 10b5-1 of the Exchange Act, which permits the Company to purchase shares, at pre-determined price targets, when it may otherwise be precluded from doing so. During the three months ended September 30, 2019, the Company purchased 1,104,786 shares at an average price of $22.64 per share, including commissions. As of September 30, 2019, purchase authority of up to $175.0 million remained available under this program, which expires on August 31, 2020.

Subsequent to September 30, 2019, the Company purchased 1,090,875 shares of its common stock under its share repurchase program at an average price of $22.93 per share, including commissions. As of November 8, 2019, purchase authority of up to $150.0 million remained available under this program.

Other Purchases

We may purchase shares on the open market to settle stock options exercised by employees and purchases under our Employee Stock Purchase Plan. In addition, upon the vesting of certain restricted stock awards under our equity compensation plans, we may withhold from such vested awards shares of our common stock to satisfy the tax liability of the award recipients.

Dividends Paid

During each of the first three quarters of 2019 and each quarter of 2018, we declared quarterly cash dividends on our common stock equal to $0.0025 per share.