Redwood Trust Declares Third Quarter 2023 Common and Preferred Dividends
12 September 2023 - 10:15PM
Business Wire
Redwood Trust, Inc. (NYSE: RWT; “Redwood” or the
“Company”), a leader in expanding access to housing for homebuyers
and renters, today announced that its Board of Directors (the
“Board”) has declared third quarter 2023 common and preferred stock
dividends.
Common Stock Dividend
The Board has authorized the declaration of a third quarter 2023
regular common stock dividend of $0.16 per share. This marks the
Company's 97th consecutive quarterly common dividend. The third
quarter 2023 common stock dividend is payable on September 29, 2023
to stockholders of record on September 22, 2023.
Preferred Stock Dividend
In accordance with the terms of Redwood’s 10.00% Series A
Fixed-Rate Reset Cumulative Redeemable Preferred Stock (“Series
A”), the Board authorized the declaration of a Series A dividend
for the third quarter of 2023 of $0.625 per share. Dividends for
the Series A are payable on October 16, 2023 to stockholders of
record on September 29, 2023.
About Redwood
Redwood Trust, Inc. (NYSE: RWT) is a specialty finance company
focused on several distinct areas of housing credit. Our operating
platforms occupy a unique position in the housing finance value
chain, providing liquidity to growing segments of the U.S. housing
market not well served by government programs. We deliver
customized housing credit investments to a diverse mix of
investors, through our best-in-class securitization platforms;
whole-loan distribution activities; and our publicly traded shares.
Our aggregation, origination and investment activities have evolved
to incorporate a diverse mix of residential, business purpose and
multifamily assets. Our goal is to provide attractive returns to
shareholders through a stable and growing stream of earnings and
dividends, capital appreciation, and a commitment to technological
innovation that facilitates risk-minded scale. We operate our
business in three segments: Residential Mortgage Banking, Business
Purpose Mortgage Banking and Investment Portfolio. Additionally,
through RWT Horizons®, our venture investing initiative, we invest
in early-stage companies strategically aligned with our business
across the lending, real estate, and financial technology sectors
to drive innovations across our residential and business-purpose
lending platforms. Since going public in 1994, we have managed our
business through several cycles, built a track record of
innovation, and established a best-in-class reputation for service
and a common-sense approach to credit investing. Redwood Trust is
internally managed and structured as a real estate investment trust
("REIT") for tax purposes. For more information about Redwood,
please visit our website at www.redwoodtrust.com or connect with us
on LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20230912908188/en/
Kaitlyn Mauritz SVP, Head of Investor Relations Phone:
866-269-4976 Email: investorrelations@redwoodtrust.com
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