Ready Capital Corporation Declares First Quarter 2021 Preferred Dividends

Rhea-AI Summary

Ready Capital Corporation (NYSE:RC) announced its Board of Directors has declared quarterly cash dividends on its preferred stock. Shareholders will receive a dividend of $0.5390625 per share for Series B Preferred Stock, $0.390625 for Series C Preferred Stock, and $0.4765625 for Series D Preferred Stock, all payable on April 15, 2021. Record dates are set for March 31, 2021. Ready Capital specializes in financing small to medium balance commercial loans and is externally managed by Waterfall Asset Management.

Positive

• Dividend of $0.5390625 for Series B Preferred Stock enhances shareholder income.
• Stable dividends for Series C and Series D Preferred Stocks indicate financial stability.

Negative

• None.

NEW YORK, March 22, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE:RC) (the "Company") announced that its Board of Directors declared quarterly cash dividends on its 8.625% Series B Cumulative Preferred Stock (the "Series B Preferred Stock"), its 6.25% Series C Cumulative Convertible Preferred Stock (the "Series C Preferred Stock"), and its 7.625% Series D Cumulative Redeemable Preferred Stock" (the "Series D Preferred Stock").

The Company declared a dividend of $0.5390625 per share of Series B Preferred Stock payable on April 15, 2021 to Series B Preferred Stock holders of record as of the close of business on March 31, 2021.

The Company declared a dividend of $0.390625 per share of Series C Preferred Stock payable on April 15, 2021 to Series C Preferred Stock holders of record as of the close of business on March 31, 2021.

The Company declared a dividend of $0.4765625 per share of Series D Preferred Stock payable on April 15, 2021 to Series D Preferred Stock holders of record as of the close of business on March 31, 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 dividend amount for Ready Capital's Series B Preferred Stock?

The dividend for Series B Preferred Stock is $0.5390625 per share.

When will Ready Capital pay the preferred dividends?

The dividends will be paid on April 15, 2021.

What are the record dates for the preferred stock dividends?

The record date for all preferred stock dividends is March 31, 2021.

How much is the dividend for Series C Preferred Stock?

The dividend for Series C Preferred Stock is $0.390625 per share.

What is the dividend for Series D Preferred Stock?

The dividend for Series D Preferred Stock is $0.4765625 per share.