Arlington Asset Investment Posts Higher Q1 Profit

(RTTNews) - Arlington Asset Investment Corp. (AI) reported net income for the first quarter of $7.0 million or $0.41 per share, compared to $3.2 million or $0.23 per share, for the year-ago quarter.

Excluding items, adjusted core operating income for the latest quarter was $20.1 million or $1.18 per share.

Net interest income for the first quarter rose to $21.6 million from $16.72 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.93 per share on revenue of $20.66 million for the first quarter. Analysts' estimates typically exclude special items.

The company said its Board of Directors has approved a $0.875 dividend for the first quarter of 2014, payable on April 30 to shareholders of record as of March 31.