Redwood Trust Announces Dividend Increase Of 17% To $0.21 For The Third Quarter Of 2021
MILL VALLEY, Calif., Sept. 13, 2021 /PRNewswire/ -- Redwood Trust, Inc. (NYSE: RWT) today announced that its Board of Directors authorized a 17% increase in the company's quarterly common stock dividend to $0.21 per share for the third quarter of 2021, up from $0.18 per share for the second quarter of 2021. This is the company's 89th consecutive quarterly dividend. The third quarter 2021 dividend is payable on September 30, 2021 to stockholders of record on September 23, 2021.
"We are pleased to announce our third consecutive quarterly dividend increase for 2021. Our dividend is reflective of the ongoing strength of our business and remains a significant component of the total return opportunity we hope to deliver for shareholders. We believe a durable dividend combined with retained earnings generated through our taxable subsidiaries drives compelling and differentiated long-term shareholder value," 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 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 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 consolidated investment portfolio has evolved to incorporate a diverse mix of residential, business purpose and multifamily investments. 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. Since going public in 1994, we have managed our business through several cycles, built a track record of innovation, and 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 Trust, visit our website at www.redwoodtrust.com or connect with us on LinkedIn, Twitter, or Facebook.
Forward-Looking Statements: 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 2021 dividends. 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, 2021 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.
Lisa Hartman – SVP, Head of Investor Relations
Email: [email protected]
Sard Verbinnen & Co
Email: [email protected]
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SOURCE Redwood Trust, Inc.
Released September 13, 2021