Ready Capital Corporation Declares Additional $0.10 Per Share Prorated Dividend For First Quarter Following Completion of Merger with Anworth Mortgage Asset Corporation

Rhea-AI Summary

Ready Capital Corporation (NYSE: RC) has declared a $0.10 prorated dividend per share of common stock and operating partnership units, payable on April 30, 2021. This dividend, for shareholders of record as of April 5, 2021, follows the merger with Anworth Mortgage Asset Corporation completed on March 19, 2021. This payment comes in addition to a prior $0.30 dividend announced for the period from January 1 to March 18, 2021, which was paid on March 18, 2021.

Positive

• Declaration of a $0.10 prorated dividend indicates commitment to shareholder returns.
• The merger with Anworth Mortgage Asset Corporation may enhance operational capabilities and market positioning.

Negative

• None.

NEW YORK, March 24, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") announced that its board of directors declared a prorated dividend of $0.10 per share of common stock and operating partnership unit (the "Prorated Dividend"). The Prorated Dividend is payable on April 30, 2021 to common stockholders and operating partnership unitholders of record as of the close of business on April 5, 2021. The Prorated Dividend was declared by the board of directors to cover the period following the close of the Company's merger with Anworth Mortgage Asset Corporation on March 19, 2021. 

This Prorated Dividend of $0.10 per share of common stock and operating partnership unit is in addition to the previously announced prorated dividend of $0.30 per share of common stock and operating partnership, which covered the period of January 1, 2021 to March 18, 2021 and was paid on March 18, 2021.

About Ready Capital Corporation

Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small to medium balance commercial loans. Ready Capital specializes in loans backed by commercial real estate, including agency multifamily, investor and bridge as well as SBA 7(a) business loans. Headquartered in New York, New York, Ready Capital employs over 500 lending professionals nationwide. The company is externally managed and advised by Waterfall Asset Management, LLC.

Contact
Investor Relations
Ready Capital Corporation
212-257-4666
InvestorRelations@readycapital.com

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SOURCE Ready Capital Corporation

FAQ

What is the amount of the prorated dividend declared by Ready Capital?

Ready Capital declared a prorated dividend of $0.10 per share.

When will the prorated dividend be paid to shareholders?

The prorated dividend will be paid on April 30, 2021.

What is the record date for the prorated dividend?

The record date for the prorated dividend is April 5, 2021.

What was the previous prorated dividend before this one?

The previous prorated dividend was $0.30 per share, covering the period from January 1 to March 18, 2021.

When was the merger with Anworth Mortgage Asset Corporation completed?

The merger with Anworth Mortgage Asset Corporation was completed on March 19, 2021.