secwatch.observer — SEC 8-K summary
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Issuer:     MBIA INC (MBI)
CIK:        0000814585
Form:       8-K
Filed at:   2023-12-07T23:59:59+00:00
Accession:  0001193125-23-290781
Event type: dividend
Sentiment:  positive
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MBIA declares $8.00/share extraordinary cash dividend (~$409M) from subsidiary dividends
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- Board declared extraordinary cash dividend of $8.00 per share (~$409M total) payable Dec 22, 2023 to holders of record Dec 18.
- NYDFS approved $550M extraordinary dividend to MBIA from subsidiary National Public Finance Guarantee Corp.
- MBIA received $97.245M as-of-right dividend from National on Nov 20, 2023.
- Dividend expected to be tax-free return of investment up to cost basis due to lack of current/accumulated E&P through Sep 30, 2023.
- CEO Bill Fallon said the distribution provides shareholder value and improves MBIA liquidity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/814585/000119312523290781/0001193125-23-290781-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/814585/000119312523290781/d638159d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-290781

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