The adjustment brings the mortgage insurer’s total annual distribution to $1.40 per share. Based on Thursday’s closing price of $65.64, the new payout represents an annual yield of approximately 2.13%, a significant step up from the previous 1.89% yield.
In section Market Quotes
Essent Group Hikes Quarterly Dividend 13% to 35 Cents
Essent Group announced Friday that its board of directors has authorized a 13% increase in the company’s quarterly cash dividend, raising the payout to 35 cents per share from its previous 31-cent level.
Timeline for Distribution
The Hamilton, Bermuda-based firm confirmed that the increased dividend is scheduled for payment on March 23. According to the company’s announcement, investors must be shareholders of record by the close of business on March 13 to qualify for the distribution.This latest capital allocation move underscores the company’s current strategy of returning value to shareholders. The board's decision follows a period of steady performance for the insurer, which continues to manage its portfolio from its primary administrative base in the Atlantic territory.
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