TPG RE Finance Trust, Inc. Declares Cash Dividend on Common Stock and Series B Cumulative Redeemable Preferred Stock

Rhea-AI Summary

TPG RE Finance Trust (TRTX) declared a cash dividend of $0.20 per share for common stock and $0.68 per share for Series B Preferred Stock on March 15, 2021. The common stock dividend will be paid on April 23, 2021, to stockholders of record as of March 26, 2021, while the Series B Preferred dividend will be paid on March 31, 2021. The company focuses on originating and managing first mortgage loans secured by institutional properties across the U.S.

Positive

• Dividend of $0.20 per share for common stock reflects ongoing returns to shareholders.
• Strong dividend of $0.68 per share for Series B Preferred Stock indicates confidence in cash flows.

Negative

• None.

TPG RE Finance Trust, Inc. (NYSE: TRTX) (“TRTX” or the “Company”) announced that on March 15, 2021, the Company’s Board of Directors declared a cash dividend of $0.20 per share of common stock for the first quarter of 2021. The dividend will be paid on April 23, 2021 to common stockholders of record as of March 26, 2021.

On March 15, 2021, the Company’s Board of Directors also declared a cash dividend of $0.68 per share of 11% Series B Cumulative Redeemable Preferred Stock (the “Series B Preferred”) for the quarterly period ending March 30, 2021. The Series B Preferred dividend is payable on March 31, 2021 to the Series B Preferred stockholder of record as of March 15, 2021.

ABOUT TRTX

TPG RE Finance Trust, Inc. is a commercial real estate finance company that originates, acquires, and manages primarily first mortgage loans secured by institutional properties located in primary and select secondary markets in the United States. The Company is externally managed by TPG RE Finance Trust Management, L.P., a part of TPG Real Estate, which is the real estate investment platform of global alternative asset firm TPG. For more information regarding TRTX, visit http://investors.tpgrefinance.com/.

FORWARD-LOOKING STATEMENTS

The information contained in this press release contains “forward‐looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward‐looking statements are subject to various risks and uncertainties, including, without limitation, statements relating to the performance of the investments of the Company; the ultimate geographic spread, severity and duration of pandemics such as the recent outbreak of novel coronavirus (“COVID-19”), actions that may be taken by governmental authorities to contain or address the impact of such pandemics, and the potential negative impacts of such pandemics on the global economy and the Company’s financial condition and results of operations; the Company’s ability to originate loans that are in the pipeline and under evaluation by the Company; and financing needs and arrangements. Forward‐looking statements are generally identifiable by use of forward‐looking terminology such as “may,” “will,” “should,” “potential,” “intend,” “expect,” “endeavor,” “seek,” “anticipate,” “estimate,” “believe,” “could,” “project,” “predict,” “continue” or other similar words or expressions. Forward‐looking statements are based on certain assumptions, discuss future expectations, describe existing or future plans and strategies, contain projections of results of operations, liquidity and/or financial condition or state other forward‐looking information. Statements, among others, relating to the continuing impact of COVID-19 on the Company’s business, financial condition and results of operations and the Company’s ability to generate future growth and deliver returns are forward-looking statements, and the Company cannot assure you that TRTX will achieve such results. The ability of TRTX to predict future events or conditions or their impact or the actual effect of existing or future plans or strategies is inherently uncertain. Although the Company believes that such forward‐looking statements are based on reasonable assumptions, actual results and performance in the future could differ materially from those set forth in or implied by such forward‐looking statements. You are cautioned not to place undue reliance on these forward‐looking statements, which reflect the Company’s views only as of the date of this press release. Except as required by law, neither the Company nor any other person assumes responsibility for the accuracy and completeness of the forward‐looking statements appearing in this press release. The Company does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210316005619/en/

FAQ

When is the TRTX common stock dividend payment date?

The TRTX common stock dividend payment date is April 23, 2021.

What is the amount of the TRTX dividend declared on March 15, 2021?

On March 15, 2021, TRTX declared a cash dividend of $0.20 per share for common stock.

What is the dividend amount for TRTX Series B Preferred Stock?

The dividend for TRTX Series B Preferred Stock is $0.68 per share.

Who will receive the TRTX dividends?

Common stockholders of record as of March 26, 2021, and Series B Preferred stockholders of record as of March 15, 2021, will receive the dividends.