Redwood Trust Declares 100th Consecutive Quarterly Dividend

By Bobby Samwell • Tuesday, June 11 18:01 • Permanent Link

Redwood Trust, Inc. (NYSE: RWT), a leader in expanding access to housing for homebuyers and renters, has announced the declaration of its second quarter 2024 common and preferred stock dividends.

For the second quarter of 2024, Redwood Trust declared a regular common stock dividend of $0.16 per share, marking the company's 100th consecutive quarterly common dividend. The dividend is payable on June 28, 2024, to stockholders of record on June 21, 2024.

In addition, 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 second quarter of 2024 of $0.625 per share. The dividends for the Series A are payable on July 15, 2024, to stockholders of record on July 1, 2024.

Redwood Trust operates its business in three segments: residential consumer mortgage banking, residential investor mortgage banking, and investment portfolio. It also has a venture investing initiative called RWT Horizons® and a home equity investment platform called Aspire®. The company is structured as a real estate investment trust ("REIT") for tax purposes.

Redwood Trust aims 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. As a result of these announcements, the company's shares have moved -0.2% on the market, and are now trading at a price of $6.27. Check out the company's full 8-K submission here.

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