Redwood Trust, Inc. reports developments in housing credit finance, mortgage banking production, securitization activity, whole-loan distribution, and REIT dividends. The company operates platforms including Sequoia for jumbo residential mortgage loans, Aspire for non-QM mortgage banking, and CoreVest, alongside investment portfolios focused on residential credit assets.
Company news commonly covers quarterly results, Earnings Available for Distribution, common and preferred stock dividend declarations, dividend tax reporting, private-label securitizations through SEMT and SPIRE, seller and institutional-investor relationships, and product expansion such as medical professional loan programs. Updates also address capital markets distribution, risk transfer, portfolio valuation effects, and the wind-down or repositioning of legacy investments.
Redwood Trust, Inc. (NYSE: RWT) announced a 12% increase in its quarterly dividend, now at $0.14 per share, payable on September 29, 2020. This marks the company's 85th consecutive quarterly dividend. The dividend increase reflects Redwood's commitment to delivering attractive returns to shareholders while strategically deploying capital. The company focuses on making credit-sensitive investments in mortgages and related assets and aims for stable earnings and dividends.
Redwood Trust, Inc. (RWT) reported a strong Q2 2020, with a GAAP net income of $165 million or $1.00 per diluted share, a significant recovery from a loss of $943 million in Q1. The GAAP book value per share improved to $8.15. The company reduced its total recourse debt substantially from $4.6 billion to $1.8 billion, and maintained a robust cash balance of $529 million. A quarterly cash dividend of $0.125 per share was declared, reflecting solid financial positioning amid ongoing economic challenges.
Redwood Trust, Inc. (NYSE: RWT) is set to release its second quarter 2020 financial results on July 30, 2020, after market close. The company's senior management team will conduct a conference call and webcast at 2:00 PM PT / 5:00 PM ET on the same day to discuss the results. Interested participants can access the live webcast on Redwood's website. A replay will be available post-call until August 13, 2020. Redwood Trust focuses on credit-sensitive investments in residential and multifamily mortgages, aiming to provide shareholders with attractive returns.
Redwood Trust, Inc. (NYSE: RWT) announced the appointment of George W. Madison to its Board of Directors, effective July 1, 2020. Mr. Madison, with extensive experience in financial regulation and corporate governance, previously served as General Counsel at the US Department of the Treasury and a partner at Sidley Austin LLP. His expertise is expected to enhance Redwood's leadership team as part of ongoing succession planning. The company also acknowledged the contributions of outgoing director Mariann Byerwalter, who served for 22 years.