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PennyMac® Financial Services , Inc. Media Janis Allen Kristyn Clark ( 805 ) 330-4899 Investors Kevin Chamberlain Isaac Garden ( 818 ) 224-7028 Penny Mac Financial Services , Inc. Reports First Quarter 2021 Results Westlake Village , CA , May 6th , 2021 – PennyMac Financial Services , Inc. ( NYSE : PFSI ) today reported net income of $ 376.9 million for the first quarter of 2021 , or $ 5.15 per share on a diluted basis , on revenue of $ 944.7 million . Book value per share increased to $ 51.78 from $ 47.80 at December 31 , 2020 . PFSI's Board of Directors declared a first quarter cash dividend of $ 0.20 per share , payable on May 27 , 2021 , to common stockholders of record as of May 17 , 2021 . First Quarter 2021 Highlights • • Pretax income was $ 506.0 million , down 18 percent from the prior quarter and up 22 percent from the first quarter of 2020 ○ Earnings reflect continued strong production and core servicing results partially offset by the performance of our hedged mortgage servicing rights ○ Repurchased approximately 4.7 million shares of PFSI's common stock for an approximate cost of $ 288.4 million ; repurchased an additional 270,000 shares in April for an approximate cost of $ 15.8 million о Issued $ 650 million of 8 - year senior unsecured notes Production segment pretax income of $ 362.9 million , down 37 percent from the prior quarter and up 51 percent from the first quarter of 2020 ○ Direct lending interest rate lock commitments ( IRLCs ) were a record $ 19.1 billion in unpaid principal balance ( UPB ) , up 3 percent from the prior quarter and 92 percent from the first quarter of 2020 1