finance.yahoo.com

Genworth Adds $500M to Share Repurchase Authorization

Genworth Financial logoGenworth Financial
Sig2.92Sen+3.85Env0.00Soc0.00Gov+1.58
Enact Holdings logoEnact Holdings
Sig1.65Sen+3.20Env0.00Soc0.00Gov0.00

Genworth Financial increased its share-repurchase authorization by $500 million on September 2, lifting unused capacity to about $588 million, including $88 million under the prior plan. The move follows Genworth’s capital receipts from Enact Holdings of $99 million in Q1 and $103 million in Q2. By September 1, Genworth had bought about 30 million shares for roughly $262 million. The authorization relies on holding-company cash and future Enact returns, excluding litigation recoveries.

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