MGIC Investment reports Q2 non-GAAP EPS 82c, consensus 72c

Reports Q2 revenue $304.25M, consensus $306.3M. Tangible book value per share was $22.99 from $22.38 at previous quarter end. CEO Tim Mattke said, “For Q2 we earned net income of $192.5M and recorded an annualized 15% return on equity building upon the momentum we’ve maintained over the past few years. The strength of our capital position was again demonstrated during the quarter as we returned $212M of capital to our shareholders through a combination of share repurchases and dividends. Our capital position further supports the 15% increase in our common stock dividend that was announced last week”.