Arbor Realty announces details of special dividend payable on January 31
Arbor Realty Trust announced the results of the stockholders' elections relating to the special dividend of 15c per share of common stock announced on December 17, 2018, which is payable on January 31. Shareholders of record on December 28, 2018 were able to elect to receive payment of the dividend all in cash or all in common shares, with the total cash distribution limited to 20% of the special distribution. Stockholders who failed to return a timely and properly completed election form before 5:00 p.m. Eastern Time on January 18, 2019 were deemed to have made an election to receive the special dividend entirely in common shares. Based on stockholder elections, the special dividend will consist of approximately $2.5 million in cash, or 20% of the total dividend, and approximately 0.9 million shares of common stock, or 80% of the total dividend. The number of shares included in the special dividend was calculated based on the $11.18 volume weighted average trading price of the Company's common stock on the New York Stock Exchange on January 22, 23 and 24, 2019, the three trading days following the Election Deadline.