Arbor Realty Trust Announces Details of Special Dividend Payable on January 31, 2019
Shareholders of record on
Based on stockholder elections, the special dividend will consist of approximately
Summarized results of the dividend elections are as follows:
- Stockholders of 58.5 million common shares made no election or elected to receive the dividend all in shares of common stock, and will receive
$0.15per share in common stock (100%).
- Stockholders of 25.5 million common shares elected to receive the dividend all in cash and will receive approximately
$0.10per share in cash (66%) and $0.05per share in common stock (34%).
- The Company will pay fractional shares in cash.
Following the special dividend, the Company will have approximately 85.1 million shares of common stock outstanding. The cash and stock portions of the special dividend are expected to be treated as a taxable dividend to stockholders for U.S. federal income tax purposes in 2018.
Safe Harbor Statement
Certain items in this press release may constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Arbor can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from Arbor’s expectations include, but are not limited to, continued ability to source new investments, changes in interest rates and/or credit spreads, changes in the real estate markets, and other risks detailed in Arbor’s Annual Report on Form 10-K for the year ended
Arbor Realty Trust, Inc.
Paul Elenio, Chief Financial Officer
The Ruth Group
Bonnie Habyan, EVP of Marketing
Source: Arbor Realty Trust