March 31 (Reuters) - Genworth Mortgage Insurance Australia Ltd GMA.AX :
* Proposed to undertake a capital management initiative for shareholders.
* Genworth Australia announces $202 million capital reduction
* The capital management initiative involves the distribution of 34 cents per share to shareholders
* The cash distribution will be combined with a related share consolidation
* Says 2016 guidance remains unchanged
* ATO has been asked to confirm that no portion of proceeds payable to shareholders will be dividend for australia income tax purposes
* Source text for Eikon ID:nASX5wJYJk
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