also you good Thanks, I'm of Mike us by joining for thank Officer, today our to Amit here Chief Katherine, our President and Financial Joshi. morning call. joined and you, and Boyle, on earnings all our
then overall and our March XX, positioning. overview environment call, provide start and an ended our for our of first the agenda the results on market quarter performance, some thoughts of I'll terms In the XXXX with
for will portfolio And at results discuss questions Amit greater time the also we'll and and detail. financial leave end. investment some Mike Thereafter, as usual, in our
as investment benefit market well we share high base strong as net income to rates continue So interest first from spreads portfolio. across quarter QX our yesterday after we delivered per as $X.XX higher results. close, was
value credit Our our share portfolio quality annualized dividend income improved XXX%. an by book covered and quarter. return on per XX% net regular the investment earnings driven represented across our were $X.XX, during investments by yield of QX
value an annualized record income to quarter net net December share produced asset NAV on an quarter XX, of X.X% growth results has our second as to book to holders announced a share February. our Board led $XX.XX $X.XX return dividend payable to in previously Board as XXXX. as The XX.X%. a also and additional of declared declared another equal then per These quarter end, of of value increase consecutive $XX.XX, we date of dividend back reflecting $X.XX in XX. June Subsequent XX, as from to Our June our per shareholders of for
So this to of our at for brings which annualized per share. as an XX. total value a we $X.XX quarter the believe yield represents rate for shareholders second ending dividends book on March XX.X% attractive
by refinancing loan and across driven credit Turning an activity. now market environment. in saw to volumes markets, We both increase private public new largely the
continued market private This to drove over course witnessed Fed gain sentiment not expectations market the seen will notably, but of to the a reversal a against segment plays. large, increased at XXXX, the observed filled limited recently and awakening has in we and its cause the cuts BSL lending middle much all positive XXXX As confidence BCSF rate loan activity temporary quarter, of segment within middle future from the market tapered that where in a saw quarter upper on the have credit credit the and and market had very takeouts we broadly players market in market during syndicated and competition XXXX, brought first growth view, was core the the first this the has economic the void hikes we refinancing when of BSL rate credit during in recent for private the direct this of the our upper large later outlook. markets.
In to players subject market middle strengthening
However, during Bain receding recession constructive Capital first Credit's of activity group also outlook as quarter private economic benefited a from prevailing. increased with environment an the credit more rate impending levels risk platform and witnessed seemingly the the with
equity private up activity. their sponsor Our investment partners picked
from $XXX XXXX QX million, from and were volumes Our XX% volumes. gross originations up XXXX year-over-year sequentially up QX during QX XX%
to $XX company the susceptible As and less in activity market, the we place segment attainable large-cap EBITDA but value tenants between million. the continue middle lending middle view. taking of in was the of many with this portfolio upper market in million. in direct refinancing are QX our the more this market mentioned, new core we that risk to favor median of much is of for our $XX originations market Not EBITDA sized $XX companies segment The only million core direct
And and For such example, as by the majority being small our controls seek premiums positions documentation lender have strong through spread control financial we and also containing out lender we a covenants. agreement where investments higher credit attributes favor holder group. we within can
Turning credit quality. to
higher on portfolio prior quarter proven respectively X.Xx across across total the down March Our X.X% quality as of light value, by Investments end declined demonstrated portfolio in well net the and from company and thus with rate amortized exhibited quarter be a portfolio of Portfolio quarter-over-quarter. in of trends nonaccrual the modest fair as nonaccrual at to resilient X.Xx saw XX. X.X% cost and to companies represent have portfolio.
We continue interest the fundamentals at X.Xx year-over-year. portfolio leverage trends of rates perform across to decline credit environment median our positive our improving as our a and far
modestly XX% from team of quarter remains solid rating closely. XX% monitors underwriting metrics, very better risk performing and at than also as investment prior to our our these credit portfolio line our of in positive trends portfolio value with vigilant companies the showed Lastly, our relative fair portfolio momentum of initial or end.
Notwithstanding expectations
middle our we in and ended leverage ratio ample Finally, our first the new compared near new us X.XXx and in net investment our of current as well investments capitalize a still can be powder relationships providing of X.XXx, higher from market portfolio... our highly activity a overall platform conduct broad environment. X.Xx of the long-standing to levels then target transaction portfolio of volumes and global companies advantage at between update XXXX, lower leverage presence fertile incumbency to diligence work. the been positions the our far in Thus Bain new with dry on supporting with quarter net remaining we've existing investment deep of the -- into source Furthermore, middle a we provides to opportunities source underwriting selective us ratio in-depth as advantage and and set while the with pleased sourcing, an on execution provide Capital's seen us XXXX.
