Enact Declares Special Cash Dividend of $1.23 Per Share

Rhea-AI Summary

On November 15, 2021, Enact Holdings (Nasdaq: ACT) announced a special cash dividend of $200 million, equating to $1.23 per share. Shareholders recorded by November 26, 2021, will receive the payment on December 15, 2021. CEO Rohit Gupta highlighted the company's strong balance sheet and cash flows as foundational for a balanced capital allocation strategy, underscoring a commitment to shareholder value.

Positive

• Declaration of a special cash dividend of $200 million, or $1.23 per share, providing immediate returns to shareholders.
• Strong balance sheet and cash flows indicating financial stability and capacity for future investments.

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• None.

RALEIGH, N.C., Nov. 15, 2021 (GLOBE NEWSWIRE) -- Enact Holdings, Inc. (Nasdaq: ACT) (Enact) today announced that its Board of Directors declared a special cash dividend of $200 million, or $1.23 per common share, payable on December 15, 2021 to the shareholders of record as of close of business on November 26, 2021.

“Our strong balance sheet and robust cash flows position Enact to pursue a balanced capital allocation strategy that supports our policyholders while allowing us to invest in our business and return capital to shareholders,” said Rohit Gupta, President and CEO of Enact. “Today’s announcement is reflective of the strength of our performance, our confidence in our business, and our commitment to generating shareholder value.”

About Enact Holdings, Inc.
Enact (Nasdaq: ACT), operating principally through its wholly-owned subsidiary Genworth Mortgage Insurance Corp. 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.

From time to time, Enact releases important information via postings on its website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found at https://ir.enactmi.com/.

FAQ

What is the dividend amount announced by Enact Holdings?

Enact Holdings announced a special cash dividend of $1.23 per share, totaling $200 million.

When will the special dividend be paid to shareholders of Enact?

The special dividend will be paid on December 15, 2021.

Who is eligible to receive the Enact dividend?

Shareholders on record as of November 26, 2021, are eligible to receive the dividend.

What is the significance of Enact's strong balance sheet?

A strong balance sheet enables Enact to support policyholders, invest in the business, and return capital to shareholders.