Lument Finance Trust, Inc. Announces Quarterly Common Stock Dividend Increase

Rhea-AI Summary

Lument Finance Trust (NYSE: LFT) announced a 14% increase in its quarterly cash dividend for common stock, raising it to $0.08 per share for Q2 2024 from $0.07 in Q1 2024. The dividend will be paid on July 15, 2024, to shareholders of record by June 28, 2024.

The company also declared a cash dividend of $0.4921875 per share for its 7.875% Cumulative Redeemable Series A Preferred Stock, payable on July 15, 2024, to preferred shareholders of record by July 1, 2024.

Positive

• 14% increase in quarterly common stock dividend.
• New dividend of $0.08 per share for Q2 2024, up from $0.07 in Q1 2024.
• Dividend payments scheduled for July 15, 2024.
• Declaration of $0.4921875 dividend per share for 7.875% Cumulative Redeemable Series A Preferred Stock.

Negative

• None.

NEW YORK, June 13, 2024 /PRNewswire/ -- Lument Finance Trust, Inc. (NYSE: LFT) ("LFT" or the "Company") announced the declaration of a cash dividend of $0.08 per share of common stock with respect to the second quarter of 2024, which represents a 14% increase over the first quarter of 2024 dividend of $0.07 per share.  The dividend is payable on July 15, 2024, to common stockholders of record as of the close of business on June 28, 2024.

The Company also announced the declaration of a cash dividend of $0.4921875 per share of 7.875% Cumulative Redeemable Series A Preferred Stock.  The dividend is payable on July 15, 2024, to preferred stockholders of record as of the close of business July 1, 2024.

About LFT

LFT is a Maryland corporation focused on investing in, financing and managing a portfolio of commercial real estate debt investments.  The Company primarily invests in transitional floating rate commercial mortgage loans with an emphasis on middle-market multi-family assets. LFT is externally managed and advised by Lument Investment Management, LLC, a Delaware limited liability company.

Additional Information and Where to Find It

Investors, security holders and other interested persons may find additional information regarding the Company at the SEC's Internet site at http://www.sec.gov/ or the Company website www.lumentfinancetrust.com or by directing requests to: Lument Finance Trust, 230 Park Avenue, 20th Floor, New York, NY 10169, Attention: Investor Relations.

Forward Looking Statements

 Certain statements included in this press release constitute forward-looking statements intended to qualify for the safe harbor contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act, as amended. Forward-looking statements are subject to risks and uncertainties. You can identify forward-looking statements by use of words such as "believe," "expect," "anticipate," "project," "estimate," "plan," "continue," "intend," "should," "may," "will," "seek," "would," "could," or similar expressions or other comparable terms, or by discussions of strategy, plans or intentions. Forward-looking statements are based on the Company's beliefs, assumptions and expectations of its future performance, taking into account all information currently available to the Company on the date of this press release or the date on which such statements are first made. Actual results may differ from expectations, estimates and projections. You are cautioned not to place undue reliance on forward-looking statements in this press release and should consider carefully the factors described in Part I, Item IA "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, which is available on the SEC's website at www.sec.gov, and in other current or periodic filings with the SEC, when evaluating these forward-looking statements. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company's control.  Except as required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Lument Finance Trust, Inc.

FAQ

What is the new dividend for Lument Finance Trust (LFT) common stock?

Lument Finance Trust (LFT) increased its quarterly dividend to $0.08 per share for Q2 2024.

When will Lument Finance Trust (LFT) pay the Q2 2024 dividend?

The Q2 2024 dividend for Lument Finance Trust (LFT) will be paid on July 15, 2024.

What is the record date for Lument Finance Trust's (LFT) Q2 2024 common stock dividend?

The record date for Lument Finance Trust's (LFT) Q2 2024 common stock dividend is June 28, 2024.

How much is the dividend for Lument Finance Trust's (LFT) Series A Preferred Stock?

The dividend for Lument Finance Trust's (LFT) Series A Preferred Stock is $0.4921875 per share.

When is the payment date for Lument Finance Trust's (LFT) Series A Preferred Stock dividend?

The Series A Preferred Stock dividend for Lument Finance Trust (LFT) will be paid on July 15, 2024.

What is the record date for Lument Finance Trust's (LFT) Series A Preferred Stock dividend?

The record date for Lument Finance Trust's (LFT) Series A Preferred Stock dividend is July 1, 2024.