READY CAPITAL CORPORATION DECLARES FOURTH QUARTER 2022 DIVIDENDS

Rhea-AI Summary

Ready Capital Corporation (NYSE:RC) declared a quarterly cash dividend of $0.40 per share for the quarter ended December 31, 2022, payable on January 31, 2023, to shareholders as of December 30, 2022. Additionally, dividends were declared for Series C and Series E Preferred Stock, amounting to $0.390625 and $0.40625 respectively, with payment dates of January 13 and January 31, 2023. The company has maintained an above-average dividend yield during the pandemic through its involvement in the Paycheck Protection Program.

Positive

• Declared a quarterly cash dividend of $0.40 per share.
• Above-average dividend yield maintained during COVID-19 pandemic.
• Dividends declared for preferred stocks, boosting overall shareholder returns.

Negative

• None.

NEW YORK, Dec. 15, 2022 /PRNewswire/ -- 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 December 31, 2022. This dividend is payable on January 31, 2023, to shareholders of record as of the close of business on December 30, 2022, which is the effective record date since December 31, 2022, is not a business day.

"Over the past six quarters, we have delivered an above average dividend yield to our investors during the volatile period associated with the COVID-19 pandemic. Through our participation in the government's Paycheck Protection Program (PPP), we generated meaningful value," said Thomas Capasse, Ready Capital's Chairman and Chief Executive Officer. "With the run-off of the income received from the program, the board of directors has aligned the dividend policy to historical targeted yields that are well-covered by our normalized distributable earnings."

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 January 13, 2023, to Series C Preferred stockholders of record as of the close of business on December 30, 2022.

The Company declared a dividend of $0.40625 per share of Series E Preferred Stock payable on January 31, 2023, to Series E Preferred stockholders of record as of the close of business on December 30, 2022.

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

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SOURCE Ready Capital Corporation

FAQ

What is the dividend amount declared by Ready Capital for Q4 2022?

Ready Capital declared a dividend of $0.40 per share for Q4 2022.

When is the dividend payable for Ready Capital stock?

The dividend is payable on January 31, 2023.

What are the payment dates for the preferred stock dividends?

The Series C Preferred Stock dividend is payable on January 13, 2023, and the Series E Preferred Stock dividend is payable on January 31, 2023.

What was the record date for the dividends declared by Ready Capital?

The record date for the dividends was December 30, 2022.