MBIA FY2023 net loss widens to $491M; pays $8/share special dividend, book value negative $32.56

MBIA INC

2023-FY EPS reported -$10.18 revenue$7,000,000

GAAP net loss $491M ($10.18/diluted share) vs $195M ($3.92) in 2022; adjusted net loss $169M ($3.49) vs $145M ($2.90).
Book value per share negative $32.56 at Dec 31, 2023, down from negative $16.07; $8/share dividend paid Dec 22.
National statutory capital $1.1B, claims-paying $1.7B; leverage ratio 25:1 (up from 16:1 at year-end 2022).
MBIA Inc. liquidity $411M; $71M share repurchase remaining; CEO: focus on resolving PREPA exposure, then selling company.
Q4 net loss $138M ($2.94/share) vs $52M ($1.05) year ago; Q4 adjusted net loss $8M vs income $15M.

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