Rithm Capital Announces Key Q3 2024 Dividends
Rithm Capital Corp. (NYSE:RITM) has shared important news 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, demonstrating a clear commitment to delivering value to its shareholders. It's important for investors and stockholders to grasp the details of these dividends and their payment timelines.
Details on the Common Stock Dividend
The Board has decided on a common stock dividend of $0.25 per share for the third quarter of 2024. Shareholders can anticipate receiving this dividend on November 1, 2024, as long as they are registered by October 1, 2024. This announcement showcases Rithm Capital's dedication to providing steady returns through regular dividend payments.
Overview of Preferred Stock Dividends
Along with the common stock dividend, Rithm Capital's Board has also declared dividends for several series of preferred stocks:
Series A Preferred Stock Dividend
For the Series A Cumulative Redeemable Preferred Stock, a dividend of $0.6988563 per share will be provided, resulting in an attractive annual rate of 11.182%. These dividends are set to accrue based on the three-month LIBOR rates plus a margin of 5.802%.
Series B Preferred Stock Dividend
The dividend for the Series B Cumulative Redeemable Preferred Stock is set at $0.6887313 per share, which corresponds to an annual rate of 11.020%. Similar to Series A, these dividends accrue based on the three-month LIBOR with an additional spread of 5.640%.
Details for Series C and D Preferred Stocks
For the Series C Cumulative Redeemable Preferred Stock, a dividend of $0.3984375 per share will be issued. Meanwhile, the Series D Fixed-Rate Reset Cumulative Redeemable Preferred Stock has a declared dividend of $0.4375000 per share.
All the preferred stock dividends mentioned will be payable on November 15, 2024, to shareholders on record as of October 15, 2024.
About Rithm Capital
Rithm Capital is a leading global asset manager with expertise in areas such as real estate, credit, and financial services. The company is involved in direct investments and operates several wholly-owned businesses. These include Sculptor Capital Management, Inc., an alternative asset manager, along with Newrez LLC and Genesis Capital LLC, both reputable names in the mortgage origination and servicing sectors.
Rithm Capital aims to provide attractive risk-adjusted returns for its stakeholders, no matter the market cycles or interest rate conditions. Since its founding in 2013, Rithm Capital has distributed roughly $5.4 billion in dividends to its shareholders, reinforcing its dedication to shareholder value. The company maintains its status as a real estate investment trust (REIT) for federal income tax purposes and is headquartered in New York City.
Frequently Asked Questions
What is the common stock dividend declared by Rithm Capital?
The common stock dividend for Q3 2024 is set at $0.25 per share.
When will the dividends for preferred stocks be issued?
The preferred stock dividends will be payable on November 15, 2024.
What is the dividend amount for Series A preferred stock?
The Series A dividend is $0.6988563 per share, representing an annual rate of 11.182%.
What is the declared dividend for Series B preferred stock?
The Series B dividend is set at $0.6887313 per share for the third quarter of 2024.
What sectors does Rithm Capital focus on?
Rithm Capital specializes in real estate, credit, and financial services, engaging in direct investments and operating multiple businesses.
