Ladder Capital Corp Announces 10% Dividend Increase and Second Quarter 2022 Dividend to Holders of Class A Common Stock

Rhea-AI Summary

Ladder Capital Corp (NYSE: LADR) has declared a quarterly cash dividend of $0.22 per share for Q2 2022, marking a 10% increase from previous dividends. This dividend will be paid on July 15, 2022, to shareholders on record as of June 30, 2022. The company's positive earnings momentum is reflected in the growth of its loan portfolio, with over 75% newly originated loans in the last five quarters. Ladder's capital structure is supported by fixed-rate, long-term unsecured bonds, benefiting from rising short-term interest rates.

Positive

• Declared a quarterly cash dividend of $0.22 per share, a 10% increase.
• Over 75% of the loan portfolio consists of newly originated loans over the last five quarters.
• Strong balance sheet supported by fixed-rate long-term unsecured bonds.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Ladder Capital Corp (“Ladder” or the “Company”) (NYSE: LADR) today announced the declaration by its Board of Directors of a second quarter 2022 dividend of $0.22 per share of Class A common stock, representing a 10% increase in Ladder's quarterly cash dividend. The cash dividend is payable on July 15, 2022 to stockholders of record as of the close of business on June 30, 2022.

"After several quarters of continued earnings momentum, I am pleased to announce a 10% increase in Ladder Capital’s quarterly cash dividend to $0.22 per share. Our business plan is unfolding as expected. We are demonstrating earnings and portfolio growth while maintaining modest overall leverage and a strong balance sheet. Over 75% of our loan portfolio has been newly originated over the last five quarters, and our capital structure, anchored by fixed-rate, long-term unsecured bonds, is now providing a strong tailwind to our earnings. Given our floating-rate assets and large component of fixed-rate liabilities, Ladder’s earnings remain positively correlated to rising short-term interest rates, and we expect our interest income to continue to rise in the quarters ahead," said Brian Harris, Ladder's Chief Executive Officer.

Ladder expects to review its dividend policy again in the coming quarters.

About Ladder

Ladder Capital Corp is an internally-managed commercial real estate investment trust with $6.0 billion of assets as of March 31, 2022. Our investment objective is to preserve and protect shareholder capital while producing attractive risk-adjusted returns. As one of the nation’s leading commercial real estate capital providers, we specialize in underwriting commercial real estate and offering flexible capital solutions within a sophisticated platform.

Ladder originates and invests in a diverse portfolio of commercial real estate and real estate-related assets, focusing on senior secured assets. Our investment activities include: (i) our primary business of originating senior first mortgage fixed and floating rate loans collateralized by commercial real estate with flexible loan structures; (ii) investing in investment grade securities secured by first mortgage loans on commercial real estate; and (iii) owning and operating commercial real estate, including net leased commercial properties.

Founded in 2008, and led by Brian Harris, the Company’s Chief Executive Officer, Ladder is run by a highly experienced management team with extensive expertise in all aspects of the commercial real estate industry, including origination, credit, underwriting, structuring, capital markets and asset management. Members of Ladder’s management and board of directors are highly aligned with the Company’s investors, owning over 10% of the Company’s equity. Ladder is headquartered in New York City with regional offices in Miami, Florida and Santa Monica, California.

Forward-Looking Statements and Coronavirus Risk

Certain statements in this release may constitute “forward-looking” statements. These statements are based on management’s current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results. These forward-looking statements are only predictions, not historical fact, and involve certain risks and uncertainties, as well as assumptions. Actual results, levels of activity, performance, achievements and events could differ materially from those stated, anticipated or implied by such forward-looking statements. While Ladder believes that its assumptions are reasonable, it is very difficult to predict the impact of known factors, and, of course, it is impossible to anticipate all factors that could affect actual results, including the impact of the COVID-19 pandemic on the Company's business. There are a number of risks and uncertainties that could cause actual results to differ materially from forward-looking statements made herein including, most prominently, the risks discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, as well as its consolidated financial statements, related notes, and other financial information appearing therein, and its other filings with the U.S. Securities and Exchange Commission. Such forward-looking statements are made only as of the date of this release. Ladder expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or changes in events, conditions, or circumstances on which any such statement is based.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220615005816/en/

Investor Contact

Ladder Capital Corp Investor Relations

(917) 369-3207

investor.relations@laddercapital.com

Source: Ladder Capital Corp

FAQ

What is the dividend amount for Ladder Capital (LADR) in Q2 2022?

The dividend amount for Q2 2022 is $0.22 per share.

When is the dividend for Ladder Capital payable?

The dividend is payable on July 15, 2022.

What is the record date for Ladder Capital's Q2 2022 dividend?

The record date is June 30, 2022.

How has Ladder Capital's dividend changed in Q2 2022?

Ladder Capital's dividend has increased by 10% in Q2 2022.

What impact do rising interest rates have on Ladder Capital's earnings?

Ladder's earnings are positively correlated to rising short-term interest rates.