Essent Reports Q4 Results & Declares Dividend
Essent Group Ltd. reported net income for the quarter ended December 31, 2021 of $181.0 million or $1.64 per diluted share, compared to $123.6 million or $1.10 per diluted share for the quarter ended December 31, 2020. For the full year 2021, net income was $681.8 million or $6.11 per diluted share, compared to $413.0 million or $3.88 per diluted share for 2020.
Essent also announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per common share. The dividend is payable on March 21, 2022, to shareholders of record on March 10, 2022.
“We are pleased with our fourth quarter and full year 2021 financial results, which reflect our continued focus on optimizing our unit economics in generating high-quality earnings and strong returns,” said Mark A. Casale, Chairman and Chief Executive Officer.
“Our strong operating performance also generated excess capital, which we continued to deploy in a balanced manner between reinvestment in our franchise and distribution to shareholders. In connection with this, we are pleased to announce that our Board has approved an increase in our quarterly dividend to $0.20 per share.”
