Broadmark Realty Capital Declares Monthly Dividend for November 2022

Rhea-AI Summary

Broadmark Realty Capital (NYSE: BRMK) announced a cash dividend of $0.035 per share for November 2022, payable on December 15, 2022. This decision reflects the company's commitment to align its dividend with distributable earnings amid challenging economic conditions. Interim CEO Jeff Pyatt emphasized the importance of preserving capital to enhance liquidity and secure long-term shareholder interests.

Positive

• Declared a cash dividend of $0.035 per share for November 2022.
• Dividend payment date is set for December 15, 2022.

Negative

• Challenging economic conditions may affect future performance.
• The need to align dividends with distributable earnings indicates potential cash flow concerns.

SEATTLE--(BUSINESS WIRE)-- Broadmark Realty Capital Inc. (NYSE: BRMK) (“Broadmark” or the “Company”), a specialty real estate finance company, announced today that its Board of Directors has declared a cash dividend of $0.035 per share of common stock for November 2022. The dividend will be payable on December 15, 2022 to stockholders of record as of November 30, 2022.

“While we are confident in the future of our business, these are challenging economic times. We are committed to running the Company in a manner that positions Broadmark for success, which requires difficult decisions. Aligning our dividend to our distributable earnings will preserve capital and build additional liquidity. We believe this is the right approach and in the best interests of our shareholders over time,” stated Jeff Pyatt, Broadmark’s Interim Chief Executive Officer.

About Broadmark Realty Capital
Broadmark is a specialty real estate finance company, providing financing solutions generally in the $5 to $75 million range per transaction. The company provides smart, reliable, rapid solutions across the entire debt capital stack, including senior, subordinate, and participation investments with fixed and floating rate structures available. Broadmark invests in a variety of new construction and existing properties across all asset classes throughout the United States, including hotel, industrial, medical, mixed-use, office, retail, self-storage, warehouse, multifamily, senior living, student housing, condos, larger scaled single-family, townhome, and multiplex. It has the competitive advantage of being an internally managed balance sheet lender, and the company’s proactive approach delivers dedicated in-house underwriting, asset management, loan servicing, and draw administration.

Forward Looking Statements

Certain statements made herein are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may”, “should”, “would”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “seem”, “seek”, “continue”, “future”, “will”, “expect”, “outlook” or other similar words, phrases or expressions. These statements are based on the current expectations and are not predictions of actual performance. In addition, actual results are subject to other risks and uncertainties that relate more broadly to the Company’s overall business, including those more fully described in the Company’s filings with the Securities and Exchange Commission. Forward-looking statements are not guarantees of performance, and speak only as of the date made, and the Company undertakes no obligation to update or revise any forward-looking statements except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221116005360/en/

Investor Relations

InvestorRelations@broadmark.com

206-623-7782

Source: Broadmark Realty Capital Inc.

FAQ

What is the dividend amount declared by Broadmark Realty Capital for November 2022?

Broadmark Realty Capital declared a cash dividend of $0.035 per share for November 2022.

When will the dividend be paid to shareholders?

The dividend will be payable on December 15, 2022.

What date is the record for shareholders to receive the dividend?

Stockholders of record as of November 30, 2022, will receive the dividend.

How does Broadmark Realty Capital's dividend align with its earnings?

The dividend aligns with Broadmark's distributable earnings to preserve capital and build liquidity.