Arbor Realty Trust Declares Special Dividend of $0.15 per Share
December 17 2018 - 8:30AM
Arbor Realty Trust, Inc. (the “Company”) (NYSE: ABR) announced
today that its Board of Directors has declared a special dividend
of $0.15 per share of common stock. The special dividend will
be paid in a combination of cash and shares of the Company’s common
stock on January 31, 2019 to common stockholders of
record on December 28, 2018.
Stockholders may elect to receive payment of the dividend all in
cash or all in common shares. The Company intends to pay up to 20%
of the special dividend in cash (excluding cash that will be paid
in lieu of fractional shares), with the balance of the special
dividend paid in shares of the Company’s common stock. To the
extent that the total amount of cash elected by stockholders
exceeds 20%, then the available cash will be prorated among those
stockholders that elected to receive their dividend in cash, with
such stockholders receiving the balance of the dividend in shares
of the Company’s common stock.
An information letter and election form will be sent to
stockholders of record promptly after December 28, 2018. The
properly completed election form to receive cash or common shares
must be received by the Company's transfer agent prior to 5:00
p.m. Eastern Time on January 18, 2019. Stockholders who
fail to return a timely and properly completed election form before
the election deadline will be deemed to have made an election to
receive the special dividend entirely in common shares. The number
of shares issued as a result of the dividend will be calculated
based on the volume weighted average trading prices of the
Company's common stock on January 22, 23 and 24, 2019.
Registered stockholders with questions regarding the dividend
election may call American Stock Transfer & Trust Company, the
Company's transfer agent, at (718) 921-8124 or (800) 937-5449. If
your shares are held through a bank, broker or nominee, and you
have questions regarding the dividend election please contact such
bank, broker or nominee, who will also be responsible for
distributing to you the letter and election form and submitting the
election form on your behalf. The Company expects that the
cash and stock portions of the special dividend will be treated as
a taxable dividend to its stockholders for U.S. federal income tax
purposes in 2018.
About Arbor Realty Trust, Inc.
Arbor Realty Trust, Inc. (NYSE:ABR) is a
nationwide real estate investment trust and direct lender,
providing loan origination and servicing for multifamily, seniors
housing, healthcare, and other diverse commercial real estate
assets. Headquartered in Uniondale, New York, Arbor manages a
multibillion-dollar servicing portfolio, specializing in Fannie
Mae, Freddie Mac, and other government-sponsored enterprises, as
well as CMBS, bridge, mezzanine, and preferred equity lending.
Rated by Standard and Poor’s and Fitch Ratings, Arbor is committed
to building on its reputation for service, quality, and
flexibility, and dedicated to providing our clients excellence over
the entire life of a loan.
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
December 31, 2017 and its other reports filed with the SEC. Such
forward-looking statements speak only as of the date of this press
release. Arbor expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in Arbor’s
expectations with regard thereto or change in events, conditions,
or circumstances on which any such statement is based.
Contacts:Arbor Realty
Trust, Inc.Paul Elenio, Chief Financial Officer 516-506-4422
pelenio@arbor.com |
Investors:The Ruth
GroupLee Roth646-536-7012lroth@theruthgroup.com |
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Media:Bonnie Habyan,
EVP of Marketing516-506-4615bhabyan@arbor.com |
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