U.S. mortgage insurance to real estate services company Radian Group Inc.’s board of directors has given a green light for a $250 million share buyback program.
The new approval of $150 million is in addition to Radian’s existing share repurchase, taking the total authorization to $250 million from $100 million.
In August last year, the board of directors approved a share buyback program under which Radian could repurchase up to $100 million shares by July 2019.
The share repurchases benefit Radian Group’s earnings per share, book value and shareholder equity.