Redwood Trust Declares First Quarter 2024 Common and Preferred Dividends
March 07 2024 - 4:15PM
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 first quarter 2024 common and preferred stock
dividends.
Common Stock Dividend
The Board has authorized the declaration of a first quarter 2024
regular common stock dividend of $0.16 per share. This marks the
Company's 99th consecutive quarterly common dividend. The first
quarter 2024 common stock dividend is payable on March 28, 2024 to
stockholders of record on March 21, 2024.
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 first quarter of 2024 of $0.625 per share. Dividends for
the Series A are payable on April 15, 2024 to stockholders of
record on April 1, 2024.
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/20240314321623/en/
Kaitlyn Mauritz Head of Investor Relations Phone: 866-269-4976
Email: investorrelations@redwoodtrust.com
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