Rithm Capital Announces Q3 2024 Dividend Payments for Stockholders

Rithm Capital Declares Important Q3 2024 Dividends

Rithm Capital Corp. (NYSE:RITM) has announced significant developments regarding its dividend policies for the third quarter of 2024. The Board of Directors has confirmed the declaration of dividends for both common and preferred stocks, marking a continued commitment to return value to its shareholders. Understanding the specific dividends and their payment schedules is essential for investors and stockholders alike.

Details of the Common Stock Dividend

The Board of Rithm Capital has set a common stock dividend of $0.25 per share for the third quarter of 2024. Shareholders can look forward to receiving this dividend on November 1, 2024, provided they are on record as of October 1, 2024. This announcement reflects Rithm Capital's ongoing efforts to provide consistent returns to its investors through regular dividend distributions.

Preferred Stock Dividends Breakdown

In addition to the common stock dividend, Rithm Capital's Board has also declared dividends for various series of preferred stocks:

Series A Preferred Stock Dividend

The Series A Cumulative Redeemable Preferred Stock will yield a dividend of $0.6988563 per share, which corresponds to an impressive annual rate of 11.182%. These dividends are structured to accrue based on three-month LIBOR rates plus a spread of 5.802%.

Series B Preferred Stock Dividend

For the Series B Cumulative Redeemable Preferred Stock, a dividend of $0.6887313 per share will be issued, equating to an annual rate of 11.020%. Similar to Series A, these dividends accrue based on three-month LIBOR with an added spread of 5.640%.

Dividends from Series C and D Preferred Stocks

The Series C Cumulative Redeemable Preferred Stock will see a dividend of $0.3984375 per share. Meanwhile, the Series D Fixed-Rate Reset Cumulative Redeemable Preferred Stock has a declared dividend of $0.4375000 per share.

All preferred stock dividends mentioned will be payable on November 15, 2024, to shareholders of record as of October 15, 2024.

About Rithm Capital

Rithm Capital stands as a prominent global asset manager, specializing in diverse fields such as real estate, credit, and financial services. The company engages in direct investments and runs various wholly-owned operating businesses. Among them are Sculptor Capital Management, Inc., which serves as an alternative asset manager, along with Newrez LLC and Genesis Capital LLC, both respected players in mortgage origination and servicing sectors.

Rithm Capital aims to produce appealing risk-adjusted returns for its stakeholders across varying market cycles and interest rate conditions. Since its inception in 2013, Rithm Capital has successfully distributed around $5.4 billion in dividends to its shareholders, which further underscores its commitment to shareholder value. Maintaining its status as a real estate investment trust (REIT) for federal income tax purposes, Rithm Capital operates from its headquarters in New York City.

Frequently Asked Questions

What is the common stock dividend declared by Rithm Capital?

The common stock dividend for the third quarter of 2024 is set at $0.25 per share.

When will the dividends for preferred stocks be paid?

The preferred stock dividends will be payable on November 15, 2024.

What is the Series A preferred stock dividend amount?

The Series A dividend is $0.6988563 per share, reflecting an annual rate of 11.182%.

How much dividend is declared for Series B preferred stock?

Rithm Capital declared a Series B dividend of $0.6887313 per share for the third quarter of 2024.

What is Rithm Capital’s business focus?

Rithm Capital focuses on real estate, credit, and financial services, engaging in direct investments and operating multiple businesses.

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