PMI Radar this one for Friday Sept 19. Was looking around tonight and found this, I believe that there is a great chance that PMI could have a nice run tomorrow. Dividend news out after the bell
Press Release Source: The PMI Group, Inc.
The PMI Group, Inc. Declares Quarterly Dividend on Common Stock
Thursday September 18, 7:52 pm ET
WALNUT CREEK, Calif., Sept. 18 /PRNewswire-FirstCall/ -- The PMI Group, Inc. (NYSE: PMI - News) today announced that its Board of Directors has declared a quarterly cash dividend in the amount of 0.25 cents per common share. This represents a reduction of one cent per common share from prior quarters. This quarterly dividend is payable on October 15, 2008 to shareholders of record on September 30, 2008.
ADVERTISEMENT
About The PMI Group, Inc.
The PMI Group, Inc. (NYSE: PMI - News), headquartered in Walnut Creek, CA, provides innovative credit, capital, and risk transfer solutions that expand homeownership and fund essential services for our customers and the communities they serve. Through its wholly and partially owned subsidiaries, PMI offers residential mortgage insurance and credit enhancement products. For more information:
The PMI Group, Inc..
Cautionary Statement: Statements in this release that are not historical facts, or that relate to future plans, events or performance are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that forward-looking statements by their nature involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. Many factors could cause actual results to differ materially from those expressed or implied by forward-looking statements, and there can be no guarantee of amounts of dividends that will be authorized by the Board in the future. Such factors include, among others, national or regional recessions, and further deterioration in the housing, mortgage and related credit markets. In particular, declines in housing values and/or housing demand, deterioration of borrower credit, higher unemployment rates, changes in interest rates, higher levels of consumer credit, higher mortgage default and claim rates, lower cure rates, higher claim sizes, the aging of our mortgage insurance portfolios, adverse changes in liquidity in the capital markets, the inability of loans servicers to process higher volumes of delinquent loans, and the further contraction of credit markets could negatively affect our US Mortgage Insurance Operations' paid claims and, as a result, our financial strength. These factors could also negatively affect the amount of excess capital available for dividend or contribution to PMI. In addition, past or future rating agency downgrades, an inability on our part to satisfy covenants contained in our credit facility, and/or our inability to execute capital initiatives could negatively affect our results of operations and financial condition. Other risks and uncertainties are discussed in our SEC filings, including our Annual Report Form 10-K for the year ended December 31, 2007 (in Item 1A) and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2008 and June 30, 2008. We undertake no obligation to update forward-looking statements. I will admit the chart don't look the greatest but here it is.
