Ready Capital Corporation Declares First Quarter 2023 Dividends

Rhea-AI Summary

Ready Capital Corporation (NYSE: RC) has announced a quarterly cash dividend of $0.40 per share, payable on April 28, 2023, to shareholders of record by March 31, 2023. The company also declared dividends for its preferred stocks: $0.390625 for the 6.25% Series C Preferred Stock payable on April 14, 2023, and $0.40625 for the 6.50% Series E Preferred Stock payable on April 28, 2023. Ready Capital specializes in commercial real estate loans and is managed by Waterfall Asset Management, LLC.

Positive

• Quarterly cash dividend of $0.40 per share enhances shareholder income.
• Dividends on Series C and Series E preferred stocks provide additional returns to preferred shareholders.

Negative

• None.

NEW YORK, March 15, 2023 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the “Company”) announced that its Board of Directors declared a quarterly cash dividend of $0.40 per share of common stock and Operating Partnership unit for the quarter ended March 31, 2023. This dividend is payable on April 28, 2023, to shareholders of record as of the close of business on March 31, 2023.

Additionally, the Company announced that its Board of Directors declared quarterly cash dividends on its 6.25% Series C Cumulative Convertible Preferred Stock (the “Series C Preferred Stock”), and its 6.50% Series E Cumulative Redeemable Preferred Stock (the “Series E Preferred Stock”).

The Company declared a dividend of $0.390625 per share of Series C Preferred Stock payable on April 14, 2023, to Series C Preferred stockholders of record as of the close of business on March 31, 2023.

The Company declared a dividend of $0.40625 per share of Series E Preferred Stock payable on April 28, 2023, to Series E Preferred stockholders of record as of the close of business on March 31, 2023.

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 600 lending professionals nationwide. The company is externally managed and advised by Waterfall Asset Management, LLC.

Contact

Investor Relations
212-257-4666
InvestorRelations@readycapital.com

Media Relations
PR@readycapital.com

FAQ

What is the dividend amount declared by Ready Capital Corporation for common stock?

Ready Capital Corporation declared a quarterly cash dividend of $0.40 per share for its common stock.

When will the dividend be paid to shareholders of Ready Capital Corporation?

The dividend will be paid on April 28, 2023.

What are the payment dates for preferred stock dividends?

The payment date for Series C Preferred Stock is April 14, 2023, and for Series E Preferred Stock is April 28, 2023.

What 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 E Preferred Stock?

The dividend for Series E Preferred Stock is $0.40625 per share.