Walker & Dunlop Q4 Results Miss Estimates; Boosts Dividend 5%
(RTTNews) - Walker & Dunlop, Inc. (WD) reported Thursday that net income for the fourth quarter declined to $41.38 million or $1.24 per share from $79.93 million or $2.42 per share in the prior-year quarter.
Excluding items, adjusted core earnings for the quarter were $1.41 per share, compared to $2.27 per share in the year-ago quarter.
Total revenues for the quarter declined 31 percent to $282.85 million from $407.19 million in the same quarter last year.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.59 per share on revenue of $328.36 million for the quarter. Analysts' estimates typically exclude special items.
The Company's Board of Directors also authorized a 5% increase in the quarterly dividend to $0.63 per share, payable on March 23, 2023 to all holders of record of restricted and unrestricted common stock as of March 8, 2023.
Further, the Board of Directors authorized the repurchase of up to $75 million of the Company's outstanding common stock over a 12-month period ending February 23, 2024.
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