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Keeping with this theme, the Oracle of Omaha has repeatedly advised investors to consider passively managed index funds with low management fees and that track a broad range of fundamentally sound businesses. Bogle set up Vanguard so that the company is owned by its funds, which, in turn, are owned by shareholders.
reflecting our lower volume and lower average sales price leverage. It will receive recurring monthly option payments, which will be used to pay predictable dividends to shareholders, and will additionally receive initial deposits and proceeds from the sale of fully developed homesites. million shares for over $2 billion in cash.
Following my comments, Dave and Ryan will provide additional comments regarding our investment strategy, investment portfolio, financial results, capital structure and leverage, and our expectations for the fourth quarter, after which we'll be happy to take your questions. per share.
for the full year, strong levels of NII per share and DNII per share to fund our record level of annual shareholder dividends, and a new record for NAV per share for the 10th consecutive quarter. per share, representing an additional 41% paid to our shareholders in excess of our regular monthly dividends.
Following my comments, David and Jesse will provide additional comments regarding our investment strategy, investment portfolio, financial results, capital structure and leverage, and our expectations for the first quarter of 2024, after which we'll be happy to take your questions. per share or 14%. per share or 14%.
This, together with our increased focus on capital allocation discipline, will further enhance shareholder value. We further enhanced our operating profit growth from gross profit growth through operating leverage. Starting with our financial performance. We perceive these measures as a less recurring strategy.
Following my comments, David and Jesse will provide additional comments regarding our investment strategy, investment portfolio, financial results, capital structure and leverage, and our expectations for the third quarter of 2024. After which, we'll be happy to take your questions. Net asset value, or NAV, increased by $0.26
We're also driving growth in Robinhood Gold, which continues to deliver value to both our customers and our shareholders. For the Q&A session, we'll start by answering the top few shareholder questions from Say Technologies ranked by number of votes. That concludes our shareholder questions from Say Technologies.
Earnings available for distribution exceeded our dividend by $0.03, demonstrating our ability to consistently earn strong returns with prudent leverage, which stood at 5.8 billion in assets available for financing, up $45 million compared to last quarter, notwithstanding the slight increase in our leverage profile.
Unlike in buyout deals, minority stakes limit two key return levers: leverage and operational control. From the private equiteer’s perspective, this means the focus shifts to other levers of generating returns: buying low, growth, and deal structuring. PIPEs also simplify the exit strategy for private equity investors.
We are, once again, pleased to share MercadoLibre's strong results with our shareholders. In your remarks, you state that you intend to use some of the headroom created by operating leverage to lean into certain areas of the business in the second half of this year. I guess, Pedro, you want to take leverage in Mexico?
The last way we're leveraging newness is to jump-start sales in lagging categories. Another one of our long-range plan initiatives is to leverage and scale our supply chain. We believe in our long-range plan and are committed to investing in it while also managing our existing cost structure.
Leveraging AI, Tinder will focus on creating a more inclusive experience, beginning with improving the Gen Z and women's experiences while solving for key user pain points across the dating journey. Similarly, Hinge is leveraging AI to further improve its powerful experience by reimagining meaningful connection.
And by reliably delivering on our commitments to our customers, our team has also been able to deliver sustained value accretion to you, our shareholders. And now looking at our capital structure, please refer to Slide 8. Our net leverage remained low relative to our peers at 3.6 times our annualized adjusted EBITDA.
And this structure will help us better drive the important synergies between all three. We've been bringing in new talent in key sectors, and we've begun to provide more leverage finance for key clients in the right situation. billion to our shareholders through common dividends and stock buybacks. Our CET1 ratio grew to 13.5%
We're pursuing bold innovations that use the newest technologies to remove friction and enhance the light among our customers as evidenced by our already launched features and plans to leverage AI to reimagine the Upwork experience. This is definitely something that we're leveraging this year. So more to come there.
I hope you've all had the opportunity to read our shareholder letter, which was published on our investor relations website earlier today. Reconciliations to the most directly comparable GAAP financial measures are provided in the shareholder letter on our investor relations website. With that, let's turn to shareholder questions.
Whether applying in-person, online, or through an app, we leverage our data and advanced analytics for our digital ecosystem to deliver fast, seamless offers designed to responsibly support each customer's particular purchase. We remain committed to delivering operating leverage for the full year. per share from $0.23 billion for 2023.
We have saved customers hundreds of millions of dollars by disrupting the traditional remittance industry with a digital-first approach, transparent feestructure, and customer-centric innovations. Our compensation philosophy is aligned to long-term shareholder interests. So, you know, good leverage in the fourth quarter.
A reconciliation between these GAAP and non-GAAP financial measures is included in our shareholder letter, which can be found on our Investor Relations website. I hope you had a chance to read our latest shareholder letter, which highlights our strong Q3 results and the momentum we are generating across all aspects of our business.
A reconciliation between these GAAP and non-GAAP financial measures is included in our shareholder letter, which can be found on our investor relations website. I hope you had the chance to read my shareholder letter where I highlighted our strong finish to 2024 and the positive momentum we're carrying into 2025.
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