Arbor Realty Trust reported a net income of $69.5 million, or $0.55 per diluted common share, and distributable earnings of $75.1 million, or $0.52 per diluted common share, for the first quarter ended March 31, 2021.
Diversified operating platform with a multifamily focus that continues to produce strong distributable earnings and dividends in all cycles
GAAP net income of $0.55 and distributable earnings of $0.52 per diluted common share
Raised cash dividend on common stock to $0.34 per share, or 13.3% higher than a year ago, representing our fourth consecutive quarterly increase
Generated pretax income of $22.5 million from our residential mortgage banking joint venture
No forward guidance was given in the provided text.