Franklin BSP Realty Trust, Inc. Announces Fourth Quarter 2024 Common Stock Dividend of $0.355 Per Share and Series E Cumulative Redeemable Preferred Stock Dividend of $0.46875 Per Share

Rhea-AI Summary

Franklin BSP Realty Trust (NYSE: FBRT) has announced its dividend distributions for the fourth quarter of 2024. The company declared a dividend of $0.355 per common share, payable on January 10, 2025, to stockholders of record as of December 31, 2024. Additionally, FBRT declared a dividend on its convertible Series H Preferred Stock equal to the as-converted common dividend amount, and a dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock, payable on January 15, 2025, to Series E preferred stockholders of record as of December 31, 2024.

Positive

• Maintained quarterly dividend distribution of $0.355 per common share
• Continued dividend payment on 7.50% Series E Preferred Stock at $0.46875 per share

Negative

• None.

Insights

Financial Analyst

This dividend announcement represents stability in FBRT's capital return policy. The $0.355 quarterly common dividend implies an annualized yield of approximately 12% at current stock prices, which is notably high for the REIT sector. The maintenance of both common and preferred dividends suggests strong underlying cash flows and commitment to shareholder returns. The Series E preferred dividend of $0.46875 equates to the stated 7.50% annual yield on the $25 liquidation preference. While dividend consistency is positive, investors should note that high yields in the commercial real estate sector often reflect market concerns about sustainability and underlying asset quality.

NEW YORK--(BUSINESS WIRE)-- Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced its Board of Directors has declared a fourth quarter 2024 dividend of $0.355 per common share. The dividend is payable on or about January 10, 2025, to common stockholders of record as of December 31, 2024. The Board of Directors also declared a fourth quarter 2024 dividend on its convertible Series H Preferred Stock in an amount equal to the as-converted common dividend amount.

FBRT’s Board of Directors also declared a fourth quarter 2024 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE: FBRTPRE). This dividend is payable on January 15, 2025, to Series E preferred stockholders of record as of December 31, 2024.

About Franklin BSP Realty Trust, Inc.

Franklin BSP Realty Trust, Inc. (NYSE: FBRT) is a real estate investment trust that originates, acquires and manages a diversified portfolio of commercial real estate debt secured by properties located in the United States. As of September 30, 2024, FBRT had approximately $6.3 billion of assets. FBRT is externally managed by Benefit Street Partners L.L.C., a wholly owned subsidiary of Franklin Resources, Inc. For further information, please visit www.fbrtreit.com.

Forward-Looking Statements

Certain statements included in this press release are forward-looking statements. Those statements include statements regarding the intent, belief or current expectations of the Company and members of our management team, as well as the assumptions on which such statements are based, and generally are identified by the use of words such as "may," "will," "seeks," "anticipates," "believes," "estimates," "expects," "plans," "intends," "should" or similar expressions. Actual results may differ materially from those contemplated by such forward-looking statements. Further, forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.

The Company's forward-looking statements are subject to various risks and uncertainties, including but not limited to the risks and important factors contained and identified in the Company’s filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and its subsequent filings with the SEC, any of which could cause actual results to differ materially from the forward-looking statements. The forward-looking statements included in this communication are made only as of the date hereof.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241216991149/en/

Investor Relations Contact:

Lindsey Crabbe

l.crabbe@benefitstreetpartners.com

(214) 874-2339

Source: Franklin BSP Realty Trust, Inc.

FAQ

What is FBRT's Q4 2024 dividend amount per common share?

Franklin BSP Realty Trust (FBRT) declared a Q4 2024 dividend of $0.355 per common share.

When will FBRT's Q4 2024 common stock dividend be paid?

The Q4 2024 common stock dividend will be paid on January 10, 2025, to stockholders of record as of December 31, 2024.

What is the dividend amount for FBRT's Series E Preferred Stock?

FBRT declared a dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock.

What is the payment date for FBRT's Series E Preferred Stock dividend?

The Series E Preferred Stock dividend will be paid on January 15, 2025, to stockholders of record as of December 31, 2024.