Essent Q1 net income $274.2M ($2.52 EPS); increases dividend to $0.21, authorizes $250M buyback

Essent Group Ltd.

2022-Q1 EPS reported $2.52 revenue$264,611,000

Net income $274.2M ($2.52 diluted EPS) vs $135.6M ($1.21) in Q1 2021.
Quarterly dividend increased to $0.21 per share, payable June 10 to holders of record June 1.
Board authorized $250M share repurchase plan through Dec 31, 2023.
Provision for losses benefit $106.9M including $101.2M from COVID-19 assumption change.
Insurance in force $206.8B, new insurance written $12.8B, default rate 1.93%.

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