partner is and With and Stanley; our joining everyone, our thank Thank you Simmonds. President, CFO, my morning, today you, Cami. me for Ian Bob us. and Good
reported and call discuss activity then Q&A. closed investment $X.XX, equity or before today, our our results results an quarter on to net with financial After over I this market return remarks to and of yesterday, call it on opening XX.X%. detail, quarter's quarterly will financial income originations of to we share the more adjusted and pass For portfolio. income equity conclude Ian final will review to third I XX.X%, an Bo share will return net of in with annualized corresponding of per per results and review adjusted annualized $X.XX our
For basis the our I has Difficulty] quarterly Board technical second think quarter, we're consecutive difficulties. having increased [Technical
if try we're me e-mail think hear can technical Let I here. this, having difficulties. you Please Cami, because
for and you joining CFO, So Simmonds. morning, you, With start and my Cami. today Bob Good Thank me everyone, thank is let us. and partner Ian our President, me our again. Stanley
and of closed market an on financial or annualized net XX.X%. quarter conclude with $X.XX of our quarterly For share to review an corresponding share of this before portfolio. And we yesterday, in to I on After results review call Q&A. of income annualized investment final posted financial and will discuss results the to remarks origination per with results equity more over will adjusted $X.XX will XX.X% Ian activity return pass to quarter's Bob and then per call net our our equity detail. today, opening third return income I adjusted
payable way, by me can December dividend By has XXth shareholders or regions per For hear the people December share of our I $X.XX approximately figured increased XXth. of record consecutive base quarter, on second to the quarterly to our now. per and X.X% $X.XX Board share hope as
in our power the base net and quarter's of income portfolio. an our rise in increase core investment was earnings by the This dividend, driven
As reported of higher we in forward from earnings. quarter, base we quarters, previously anticipated. impacting curve Since the rates previewed what seeing prior we core sensitivity earnings in now last excess core asset we're positive has the in deepened resulting
the rolling as influence enhanced Over had coverage coverage, leverage level highlight quarter levels, earnings new earnings, core five we exceed quarterly the on through the comfortable core expect quarterly activity-based and core the felt dividend $X.XX earnings level the XXXX the for dividend our portfolio. core Based average in that and all have of the earnings generated excluding all-in four that base anticipate share, levels our the At dividend understanding our per years, our yields last Board significant extending ability our raising dividend. anticipated to XXX%. income of we an of this defined on
each our the of level As on the to period will the establishing high and degree increases environment continue to our continues evaluate meeting of evolve, we a efficiency base dividend maximizing that capital consistent operating basis. This quarterly philosophy a is and confidence Board a further base. have with of
our and value. The dividend yield revised quarterly given which prior XX.X%. quarterly in net base the level to no bride core asset declared serves level While supplemental QX the to increases stabilize QX well of dividend to booked covered base NAV related yield limiter dividend was the earnings was our in capital of through annualized XX% our dividend retain earnings, quarterly dividend distribution from book framework
Our the with place, supplemental in to dividends. allowing dividend supplemental for future opportunity increase book framework remains yields dividend
of due underlying investment per and our difference primarily losses, of in this Turning not income investments. market quarter's the and quality $X.XX spreads wider changes share now from a earnings income between to credit was net summary to the unrealized net result material as
from the which issuing value by driven XXXX of sell per net to August. accretive the impact the our the discuss, matured asset our has of as will portfolio to discuss, convertible -- the of -- performance in performance, our as discuss, primarily performance portfolio Bill strong. the share will Bill remained Growth Bob was shares $XX.XX majority $XX.XX will notes, As reported in
weighted we valuation framework quarter, implied the widening our values published resulted offsetting our the idiosyncratic accompanying impact average our value portfolio, includes and As partially other expected this during Spread recall increase conference from of our of dividend thereby you and the life approximately within of notes base valuation the net share we and into spreads from movements the may losses, adjusting experienced last market call accretion unrealized the quarter letter factors. for and level. above combination asset per equity in in $X.XX of earnings conversion lower
a few on to environment. current the now Turning thoughts
rate the most cycle rapid Fed since to mid-innings the more corporates as increasing the seven being and We into in basis expectation year-to-date Despite in of the be this which choose it are the rate XXXXs, be strength. the like the we're our points a key of in anticipate months with consumers long economy a hike to the tame XXX important will increase long rates a feels cycle reasons. has the In disruption, remain number of sectors will and position view, -- battle come. of inflation we be for will real the there main which demand
and stimulus asset during the pandemic, sheets coupled decades prices corporate household over and and low excess consumers. in First, with strong savings for increasing resulted rates, balance of has consumer low inflation
and immediate an consumers environment This continue, from the strong has unemployment. fixed of effect levels nature while are rate growth than the has historically in impact in floating interest latter increase offset been inflation as wage remained increases rate Second, insulated consumption. on of rather somewhat or mortgages have interest while the low -- aspect adjustable to-date rate the helped of
only which that to in given the once inflation, their unemployment, by we ability way nominal to is to earnings. disruption begins rise demand likely need pivot the it see tame through Third, in Fed's corporate seems is decline create real compromised a
meaningfully tech as the rates differently across will by and As we monetary negatively conditions likely of asset quantitative tightening feeds environment in financial flows. present cash the through on long-duration impacted impact rising of for as classes. Returns to Fed rates, and policy Risky felt continues, changes more tight. assets its value large struggle usual equities future net been an the keeps where results moves have in with lag, assets small and movement the biotech such
On floating upon credit of however, duration fundamentally sensitive assets and be more portfolio reprice winning portfolio premiums, what portfolio, selection three in to sector rate, our time. years. short shorter-duration two rising given private predominantly of to assets and not We those to dependent, change ability over is sensitive environment believe the credit rate dispersion is to drives specifically and to management. returns spread will The the active ultimately benefit and across the the assets and every factors these risk in less and other hand, our compromise rates
and take quarter's I'll positioned that years this uncertainty our origination over to and of XX since record opportunity investing turn the the years Given through it and Bo navigate With feel investment, macro that, our track SOX it uncertain discuss environment -- to we to presents. activity through well XX first portfolio. direct mini set advantage COVID,
