Genworth Mortgage Insurance Australia (ASX:GMA) has reported its net profit after tax fell 34.7 per cent in first half of 2017 to $88.7 million (compared to $135.8 million in the prior corresponding period).
The provider of lenders mortgage insurance says, the results were in line with expectations and it demonstrates its reliance amid challenging conditions.
Genworth Mortgage Insurance saw a drop of 7.5 per cent its Net Earned Premium compared to the prior corresponding period.
The board also declared fully franked and special dividends totaling $0.14 per share.
The firm also announced it will begin an on-market buy-back for shares, up to a maximum aggregated value of $100 million.
Genworth Mortgage Insurance Australia (ASX:GMA) are trading 3.64 per cent higher to $3.13