Enact Declares Quarterly Dividend of $26 Million and Special Dividend of $113 Million

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Enact Holdings, Inc. (Nasdaq: ACT) has declared a quarterly cash dividend of $26 million ($0.16 per share) and a special cash dividend of $113 million ($0.71 per share). The dividends will be payable on December 5, 2023, to shareholders of record as of November 16, 2023. Enact aims to return $300 million of capital to shareholders in 2023.

RALEIGH, N.C., Nov. 01, 2023 (GLOBE NEWSWIRE) --  Enact Holdings, Inc. (Nasdaq: ACT) (Enact) today announced that its Board of Directors declared a quarterly cash dividend of $26 million, or $0.16 per common share, and a special cash dividend of $113 million, or $0.71 per common share. The quarterly dividend and special cash dividend are both payable on December 5, 2023 to shareholders of record as of close of business on November 16, 2023. Future dividends will be subject to Board approval.

“Our operating performance, strong capital position, and continued confidence in the business position us to declare a special cash dividend today in addition to our quarterly dividend. We are on track to meet our guidance to return $300 million of capital to shareholders in 2023 and remain committed to our balanced approach to capital allocation as we maintain a strong balance sheet, invest in our business, and generate value for our shareholders,” said Rohit Gupta, President and CEO of Enact.

About Enact Holdings, Inc.
Enact (Nasdaq: ACT), operating principally through its wholly-owned subsidiary Enact Mortgage Insurance Corporation since 1981, is a leading U.S. private mortgage insurance provider committed to helping more people achieve the dream of homeownership. Building on a deep understanding of lenders' businesses and a legacy of financial strength, we partner with lenders to bring best-in class service, leading underwriting expertise, and extensive risk and capital management to the mortgage process, helping to put more people in homes and keep them there. By empowering customers and their borrowers, Enact seeks to positively impact the lives of those in the communities in which it serves in a sustainable way. Enact is headquartered in Raleigh, North Carolina.

FAQ

What is the ticker symbol for Enact Holdings, Inc.?

The ticker symbol for Enact Holdings, Inc. is ACT.

What is the amount of the quarterly cash dividend?

The quarterly cash dividend is $26 million.

What is the amount of the special cash dividend?

The special cash dividend is $113 million.

When will the dividends be payable?

The dividends will be payable on December 5, 2023.

Who will be eligible for the dividends?

Shareholders of record as of November 16, 2023, will be eligible for the dividends.

What is Enact's plan regarding capital return to shareholders in 2023?

Enact aims to return $300 million of capital to shareholders in 2023.