Ready Capital Corporation Declares Second Quarter 2024 Dividends

Rhea-AI Summary

Ready Capital (NYSE: RC) announced its Board of Directors has declared a quarterly cash dividend of $0.30 per share for common stock and Operating Partnership units for Q2 2024. The dividend is payable on July 31, 2024, to shareholders of record as of June 28, 2024.

The Board also declared quarterly cash dividends on its 6.25% Series C Cumulative Convertible Preferred Stock ($0.390625 per share, payable July 15, 2024, record date June 28, 2024) and its 6.50% Series E Cumulative Redeemable Preferred Stock ($0.40625 per share, payable July 31, 2024, record date June 28, 2024).

Ready Capital specializes in real estate finance, offering various loans backed by commercial real estate, including agency multifamily, investor, construction, bridge, and U.S. Small Business Administration loans. The company is headquartered in New York, employing about 350 professionals nationwide.

Positive

• Ready Capital declared a quarterly cash dividend of $0.30 per share for common stock and Operating Partnership units.
• Dividends for Series C and Series E Preferred Stock were also declared, maintaining shareholder returns.
• Q2 2024 dividends are scheduled for payment on July 31, 2024 (common stock, Series E Preferred) and July 15, 2024 (Series C Preferred).
• Ready Capital continues to support shareholders with consistent dividend payments.

Negative

• The announcement did not include any updates on overall financial performance or earnings guidance.
• No mention of revenue growth or profitability metrics was provided.

NEW YORK, June 14, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the “Company”) announced that its Board of Directors declared a quarterly cash dividend of $0.30 per share of common stock and Operating Partnership unit for the quarter ended June 30, 2024. This dividend is payable on July 31, 2024, to shareholders of record as of the close of business on June 28, 2024.

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 July 15, 2024, to Series C Preferred stockholders of record as of the close of business on June 28, 2024, which is the effective record date since June 30, 2024, is not a business day.

The Company declared a dividend of $0.40625 per share of Series E Preferred Stock payable on July 31, 2024, to Series E Preferred stockholders of record as of the close of business on June 28, 2024.

About Ready Capital Corporation

Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services lower-to-middle-market investor and owner occupied commercial real estate loans. The Company specializes in loans backed by commercial real estate, including agency multifamily, investor, construction, and bridge as well as U.S. Small Business Administration loans under its Section 7(a) program. Headquartered in New York, New York, the Company employs approximately 350 professionals nationwide.

Contact

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

Media Relations
PR@readycapital.com

FAQ

What is the dividend amount declared by Ready Capital for Q2 2024?

Ready Capital declared a quarterly cash dividend of $0.30 per share of common stock and Operating Partnership units for Q2 2024.

When is Ready Capital's Q2 2024 dividend payable?

The dividend is payable on July 31, 2024, to shareholders of record as of June 28, 2024.

What is the dividend amount for Ready Capital's 6.25% Series C Preferred Stock?

The dividend for the 6.25% Series C Preferred Stock is $0.390625 per share, payable on July 15, 2024, with a record date of June 28, 2024.

What is the dividend amount for Ready Capital's 6.50% Series E Preferred Stock?

The dividend for the 6.50% Series E Preferred Stock is $0.40625 per share, payable on July 31, 2024, with a record date of June 28, 2024.

What kind of loans does Ready Capital specialize in?

Ready Capital specializes in loans backed by commercial real estate, including agency multifamily, investor, construction, and bridge loans, as well as U.S. Small Business Administration loans.