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MGIC INVESTMENT CORPORATION DECLARESTWO-FOR-ONE STOCK SPLIT, INCREASES CASH DIVIDEND

 MILWAUKEE, Wis., Oct. 28 /PRNewswire/ -- The board of directors of MGIC Investment Corporation (NYSE: MTG) today declared a two-for-one stock split of its common stock. The company said the additional shares of common stock will be issued on Dec. 2, 1993, to shareholders of record at the close of business on Nov. 12, 1993. Following the stock split, the company will have approximately 58.3 million shares outstanding.
 The company also announced that the board of directors declared a cash dividend on the outstanding shares of common stock of $.08 per share, before giving effect to the two-for-one stock split. The cash dividend is payable on Dec. 2, 1993, to shareholders of record at the close of business on Nov. 12, 1993. The new dividend rate of $.08 per share represents a 14 percent increase from the $.07 per share paid in prior quarters.
 "We believe that a two-for-one stock split will make the company's shares available to a broader segment of the investing public, enabling MGIC Investment Corporation to expand it's shareholder base," said William H. Lacy, president and chief executive officer of MGIC Investment Corporation and Mortgage Guaranty Insurance Corporation (MGIC), its principal subsidiary.
 MGIC Investment Corporation is headquartered in Milwaukee. Through its subsidiary MGIC, it is a leading provider of private mortgage insurance coverage in the United States. Private mortgage insurance covers residential first mortgage loans and expands home ownership by enabling people to purchase homes with less than 20 percent down payments. Private mortgage insurance also facilitates the sale of low down payment first mortgage loans in the secondary mortgage market.
 -0- 10/28/93
 /CONTACT: James S. Macleod, senior vice president, Office of the President, MGIC Investment, 414-347-6812/
 (MGIC)


CO: MGIC Investment Corporation ST: Wisconsin IN: FIN SU:

DS-AL -- MN005 -- 7774 10/28/93 09:59 EDT
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Publication:PR Newswire
Date:Oct 28, 1993
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