Essent Reports Q2 Results & Declares Dividend
Essent Group Ltd. reported net income for the quarter ended June 30, 2020 of $15.4 million or $0.15 per diluted share, compared to $136.4 million or $1.39 per diluted share for the quarter ended June 30, 2019.
Essent also announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per common share. The dividend is payable on September 10, 2020, to shareholders of record on August 31, 2020.
“Our financial results for the second quarter reflect the initial impact of the COVID-19 pandemic on our insured portfolio,” said Mark Casale, Chairman and Chief Executive Officer.
“Our outlook on the timing and shape of an economic recovery remains cautious. However, we remain confident that with the strength and sustainability of our operating model, in conjunction with our strong balance sheet, capital and liquidity, we are well suited to navigate this challenging operating environment.”
