Redwood Trust Announces Common Dividend Increase of 6.25% to $0.17 Per Share for the Third Quarter 2024
Common Stock Dividend
The Board has authorized the declaration of a third quarter 2024 regular common stock dividend of
“We are pleased to announce an increase in our common dividend, reflecting our continued confidence in the strength of our balance sheet and our outlook heading into a more accommodative interest rate environment,” said Christopher Abate, Chief Executive Officer of Redwood. “This increase underscores the progress we’ve made towards the goals laid out at our March 2024 Investor Day and reaffirms our commitment to generating long-term value for our shareholders. Moving forward, we anticipate the evolving macro environment to facilitate further scale in our mortgage banking operations and unlock the embedded value in our investment portfolio, driving earnings and book value expansion through time.”
Preferred Stock Dividend
In accordance with the terms of Redwood’s
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to our expectations regarding the impact of the interest rate and macroeconomic environment on the scale of our mortgage banking operations and embedded value in our investment portfolio, and expectations regarding earnings and book value expansion. Forward-looking statements involve numerous risks and uncertainties. Redwood's actual results may differ from Redwood's beliefs, expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements are not historical in nature and can be identified by words such as “anticipate,” “estimate,” “will,” “should,” “expect,” “believe,” “intend,” “seek,” “plan” and similar expressions or their negative forms, or by references to strategy, plans, or intentions. These forward-looking statements are subject to risks and uncertainties, including, among other things, those described in our Annual Report on Form 10-K for the year ended December 31, 2023 under the caption “Risk Factors”. Other risks, uncertainties, and factors that could cause actual results to differ materially from those projected may be described from time to time in reports we file with the Securities and Exchange Commission, including reports on Forms 10-Q and 8-K. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
About Redwood
Redwood Trust, Inc. (NYSE: RWT) is a specialty finance company focused on several distinct areas of housing credit where we provide liquidity to growing segments of the
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Kaitlyn Mauritz
Head of Investor Relations
Phone: 866-269-4976
Email: investorrelations@redwoodtrust.com
Source: Redwood Trust, Inc.