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PennyMac Financial Services , Inc. Media Kristyn Clark ( 805 ) 395-9943 Investors Kevin Chamberlain Isaac Garden ( 818 ) 224-7028 Penny Mac Financial Services , Inc. Reports Second Quarter 2021 Results Also Announces $ 1.0 Billion Increase in Stock Repurchase Program Westlake Village , CA , August 5th , 2021 - PennyMac Financial Services , Inc. ( NYSE : PFSI ) today reported net income of $ 204.2 million for the second quarter of 2021 , or $ 2.94 per share on a diluted basis , on revenue of $ 742.3 million . Book value per share increased to $ 54.49 from $ 51.78 at March 31 , 2021 . PFSI's Board of Directors declared a second quarter cash dividend of $ 0.20 per share , payable on August 26 , 2021 , to common stockholders of record as of August 16 , 2021 . PFSI's Board of Directors also approved an increase to its stock repurchase authorization from $ 1.0 billion to $ 2.0 billion of outstanding common stock . Second Quarter 2021 Highlights • • Pretax income was $ 279.5 million , down 45 percent from the prior quarter and 42 percent from the second quarter of 2020 primarily due to lower net gains on loans held for sale at fair value across both Production and Servicing ○ Repurchased 2.6 million shares of PFSI's common stock at a cost of $ 154.9 million ; also repurchased an additional 2.5 million shares in July at a cost of $ 151.4 million Production segment pretax income of $ 244.4 million , down 33 percent from the prior quarter and 55 percent from the second quarter of 2020 primarily as a result of lower industry margins