Enact Increases Quarterly Dividend From $0.16 To $0.185 And Announces New $250M Share Repurchase Program, In Addition To The Company's Current $100M Share Repurchase Program, Of Which $24M Remains As Of April 26th, 2024
Portfolio Pulse from Benzinga Newsdesk
Enact Holdings, Inc. (NASDAQ:ACT) announced an increase in its quarterly dividend from $0.16 to $0.185 per share and introduced a new $250M share repurchase program, in addition to the existing $100M program with $24M remaining. The dividend is payable on June 13, 2024, to shareholders of record as of May 29, 2024. The new repurchase program allows for stock purchases through various methods and may include transactions with Genworth Holdings, Inc. The initiatives reflect Enact's strong financial position and commitment to shareholder value.
May 01, 2024 | 9:20 pm
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Enact Holdings, Inc. (ACT) increases its quarterly dividend by 16% and announces a new $250M share repurchase program, signaling strong financial health and a commitment to returning value to shareholders.
The increase in dividend and the announcement of a substantial new share repurchase program are strong indicators of Enact's financial stability and optimism about its future performance. These actions typically signal to the market that the company believes its stock is undervalued and that it is in a solid position to return capital to shareholders, which can lead to positive investor sentiment and potentially increase the stock price in the short term.
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