Equitable Holdings (EQH) reported Q1 non-GAAP earnings late Tuesday of $1.30 per diluted share, down from $1.39 a year earlier.

Analysts polled by FactSet expected $1.47.

Revenue for the quarter ended March 31 was $4.58 billion, up from $2.23 billion a year earlier.

Three analysts surveyed by FactSet expected $3.87 billion.

The company said it plans to increase its quarterly dividend to $0.27 per share from $0.24 in Q2.

The company also intends to repurchase an incremental $500 million of equitable shares above its 60%-70% payout ratio upon the completion of its transaction with Reinsurance Group of America (RGA) mid-year.