TORONTO, Nov. 3, 2011 /CNW/ - The Board of Directors of Genworth MI
Canada Inc. (the "Company") (TSX: MIC) today announced that it has
authorized and declared a 3 cents increase to its shareholder dividend
from $0.26 to $0.29 per common share for the fourth quarter of 2011.
This dividend will be paid on December 1, 2011, to shareholders of
record at the close of business on November 15, 2011.
As well, the Board of Directors of the Company announced that it has
declared a special dividend of $0.50 per common share, for an aggregate
amount of approximately $50 million, also to be paid on December 1,
2011, to shareholders of record at the close of business on November
15, 2011. The common dividend increase and the special dividend
declaration reinforce the strength of the Company's business model and
its confidence in delivering ongoing profitability.
Genworth MI Canada Inc. designates any and all dividends paid or deemed
for Canadian federal, provincial or territorial income tax purposes to
be paid as "eligible dividends", unless indicated otherwise in respect
of dividends paid subsequent to this notification, and hereby notifies
all recipients of such dividends of this designation.
About Genworth MI Canada Inc.
Genworth MI Canada Inc., through its subsidiary, Genworth Financial
Mortgage Insurance Company Canada, has been the leading Canadian
private residential mortgage insurer since 1995. Known as Genworth
Financial Canada, "The Homeownership Company," it provides default
mortgage insurance to Canadian residential mortgage lenders that
enables low down payment borrowers to own a home more affordably and
stay in their homes during difficult financial times. Genworth
Financial Canada combines technological and service excellence with
risk management expertise to deliver innovation to the mortgage
marketplace. As at September 30, 2011, Genworth Financial Canada had
$5.4 billion in total assets and $2.7 billion in shareholders' equity.
Based in Oakville, Ontario, the Company employs approximately 265
people across Canada. Additional information about Genworth MI Canada
Inc. is available at www.genworth.ca.
SOURCE Genworth MI Canada
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