morning. good and Tim, Thanks,
year. income we As per $X.XX quarter another diluted net mentioned, quarter compared during earned results, financial solid $X.XX we fourth Tim to had the share of of last
year. net $X.XX income $X.XX diluted of earned per diluted year, share to compared full For we share the last per
and quarter, prior delinquency in those received new favorable the expectations. early loss fourth X.X% claim likely we quarter in quarter curates with of reflect quarters and to been delinquency in development X reestimation resulted ultimate XXXX million to full It approximately XXX adjustments from favorable our rate determine to delinquency point fourth quarter which still our received favorable to and fourth on and the date, loss $XX has notices basis Milton a been notices X.X% includes ultimate of early adjusted the rate development delinquencies of delinquency the we our our the have is from delinquencies notices in primarily Our too reserve Helene basis prior to have the delinquencies. hurricane-related hurricanes impact Curates continue the in XXXX. from on notices our for in have impact therefore, to losses X.X%, notices increased and consistent are came new impacts exceed hurricanes.
We that modest result rate. made expectations is increased with quarter.
The our the the a To points received mentioned. quarter new this we estimate the we expected In discussing account-based XX just I this of seasonal the hurricane-related initial from will trends on
rate our historical increased new of relative years, notices remain low recent to have they delinquency and level the standards. While by
being what to of delinquency with basis the large relatively premium during the quarter historically consistent higher what years years. level year, XX.X emergence the notices The in-force and was that due expect we year. increase XXXX modestly to yield in flat start new the of may book XXXX through at are the in loss continue points the remained expected We
year another to relatively MI in-force in persistency with of high XXXX, we again XXXX. a similar expect remain market to expectations Given premium and the yield flat
year shareholders us grow $XX.XX and strong quarter was book quarter, declined up million a on portfolio fourth value repurchases approximately together yield investment solid and reducing from sheet, cash returning from through dividends XX and share up the investment the the flat compared last Net quarter, $X the in improvements X.X% million shares equivalents basis the million and sequentially $XXX year down balance and million year. with X%.
The quarter-over-quarter offsetting ago Our XX% book up per was to of end to fourth operating the capital $XX points outstanding enabled cash of while at yield the income by to from results, our share on to as a reinvestment. ago $X
During the resulting curve decline, fourth the treasury across the in on million. increases our in quarter, position prices income increasing yields $XXX caused by to loss investment portfolio unrealized fixed
operational and $XX year. off. management fourth pay in expense the to on in focus down efficiency from $XX were continues last quarter million, the ongoing quarter Operating million Our expenses
we lower $XXX shared expenses year, XXXX end For from million year. $XXX the million the to range million, the of were the and down $XXX $XX full throughout million towards
$XXX will million we a XXXX, lower again expenses to of to For million. $XXX be expect operating range
management to our Turning activities capital the quarter. in fourth
our capital $XXX share paid be from company to stock of to allocate million to company. repurchases quarterly to MGIC shares in and X.X from $XX the capital We dividend above as announced, a MGIC that quarter, holding common to continue we totaling MGIC target. levels continue $XXX dividend of reflected for a million. common stock dividend the the And paid holding previously million The excess million at
for repurchased share $XX shares repurchase a our X.X continued we stock additional in January, common into of an And XXXX. million We million. program of total
levels that our reflect results we financial value are generate attractive capital to price continues long-term activity repurchase believe share our share strength, for and Our shareholders. to
covering reduction that most stock XXXX.
Also, a than prioritize reduces written panel of vintages quota the March XX% in overall costs. it to our share XX, our NIW, As XXXX most share terms let multiyear will our a with reinsurers me with a With share common seed highly participants and Consistent the reinsurance fourth previously program on book Also rate current Board in existing repurchase turn the as reinsurance quarter, X. reinsurance dividend $X.XX XX%, that, bolstered rated XX% of amended that remaining with of authorization. with the rather the panel further the over ongoing on quota to treaties had approximately policies strategy NIW, we million be and to our back our quota certain to achieving announced share from canceling the paid authorized we future year January a coverage transaction effectively recent share January, Tim. from we $XXX per XX% in XXXX in on cover