Arbor Realty Trust (ABR) Raises Quarterly Dividend 5% to $0.42; 15.4% Yield
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Arbor Realty Trust Reports First Quarter 2023 Results and Increases Dividend by $0.02 to $0.42 per Share
May 5, 2023 8:15 AM EDTCompany Highlights:
Diversified, annuity-based operating platform with a multifamily focus that generates strong distributable earnings and dividends in all cycles GAAP net income of $0.46 per diluted common shareDistributable earnings1 of $0.62 per diluted common share, well in excess of our current dividend, representing a 68% payout ratioRaised cash dividend on common stock to $0.42 per share; a $0.02 per share, or 5% increase, representing an annualized dividend of $1.68 per shareStrong liquidity position with ~$785 million in cash and liquidity and ~$560 million of restricted cash in replenishable CLO vehicles with a weighted... More