Redwood Trust Announces Dividend Increase Of 12% For The Third Quarter Of 2020
Redwood Trust, Inc. (NYSE: RWT) announced a 12% increase in its quarterly dividend, now at $0.14 per share, payable on September 29, 2020.
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Rhea-AI Summary
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.
Positive
- 12% increase in quarterly dividend to $0.14 per share
- 85th consecutive quarterly dividend
- Commitment to attractive returns for shareholders
Negative
- Risks and uncertainties related to forward-looking statements about dividends and capital deployment
Details
News Market Reaction – RWT
The recorded move for RWT in the trading session of this news was -1.11%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MILL VALLEY, Calif., Sept. 11, 2020 /PRNewswire/ -- Redwood Trust, Inc. (NYSE: RWT) today announced that its Board of Directors has declared a
"We are pleased to increase the dividend we pay to shareholders. We remain committed to delivering an attractive dividend while continuing to strategically deploy capital going forward," said Christopher J. Abate, Chief Executive Officer of Redwood Trust.
About Redwood Trust
Redwood Trust, Inc. (NYSE: RWT) is a specialty finance company focused on making credit-sensitive investments in single-family residential and multifamily mortgages and related assets and engaging in mortgage banking activities. Our goal is to provide attractive returns to shareholders through a stable and growing stream of earnings and dividends, as well as through capital appreciation. Redwood Trust was established in 1994, 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.
Cautionary Statement: This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to Redwood's 2020 regular dividends and ability to deliver stable, attractive dividends while deploying capital. Forward-looking statements involve numerous risks and uncertainties. Our actual results may differ from our beliefs, expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements are not historical in nature and can be identified by words such as "anticipate," "estimate," "will," "should," "expect," "believe," "intend," "seek," "plan" and similar expressions or their negative forms, or by references to strategy, plans, or intentions. These forward-looking statements are subject to risks and uncertainties, including, among other things, those described in our Annual Report on Form 10-K for the year ended December 31, 2019 under the caption "Risk Factors." Other risks, uncertainties, and factors that could cause actual results to differ materially from those projected may be described from time to time in reports we file with the Securities and Exchange Commission, including reports on Forms 10-Q and 8-K. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
CONTACT
Lisa Hartman – SVP, Head of Investor Relations
Phone: 866-269-4976
Email: investorrelations@redwoodtrust.com
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SOURCE Redwood Trust, Inc.
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