Rithm Capital Corp. Announces Enhanced Dividend Details for Q3
Rithm Capital Corp. (NYSE:RITM), a distinguished player in global asset management, has conveyed pivotal changes regarding its common and preferred stock dividends for the third quarter of 2024. These adjustments reflect a strategic approach that resonates with its mission to deliver value to shareholders.
Recent Changes in Dividend Declarations
In a recent Board meeting, Rithm Capital's Directors declared an attractive common stock dividend of $0.25 per share for the third quarter of 2024. This dividend will be accessible to shareholders of record on October 1, 2024, with payment scheduled for November 1, 2024. Such dividends are crucial for shareholders who depend on consistent income streams from their investments.
Details on Preferred Stock Dividends
The Board has also updated preferred stock dividends for the Series A, B, C, and D Cumulative Redeemable Preferred Stocks. For Series A, a dividend of $0.71438639 per share has been set, aligning with a yield of 11.182%. This Series A dividend features a floating rate that adjusts with the three-month LIBOR, coupled with a spread of 5.802%, reflecting the company's adaptability in various market conditions.
Further Insights into Series B, C, and D
Similarly, Series B will see a declared dividend of $0.70403639 per share at a yield of 11.020%. Like Series A, it also accrues dividends at a floating rate, calculated with a spread of 5.640%. For Series C, investors can look forward to a dividend of $0.3984375 per share, while Series D is set at $0.4375000 per share, with payments scheduled for November 15, 2024. Shareholders on record by October 15, 2024, will be eligible to receive these payments.
About Rithm Capital Corp.
Rithm Capital is dedicated to creating value through strategic asset management, primarily in real estate, credit, and financial services. With a versatile portfolio that includes direct investments and wholly-owned operational businesses, Rithm Capital is well-positioned to navigate the complexities of the market. Notable divisions under Rithm include Sculptor Capital Management, an alternative asset management firm, as well as robust mortgage origination and servicing platforms like Newrez LLC and Genesis Capital LLC.
Since its inception in 2013, Rithm Capital has successfully delivered approximately $5.4 billion in dividends to shareholders, emphasizing its commitment to providing attractive risk-adjusted returns. The company is structured as a real estate investment trust (REIT), ensuring compliance with federal income tax regulations, with its headquarters situated in the vibrant city of New York.
Frequently Asked Questions
What are the key dividend amounts declared by Rithm Capital for Q3 2024?
The declared common stock dividend is $0.25 per share, while the preferred stock dividends vary from $0.70403639 to $0.71438639 per share, depending on the series.
When will shareholders receive their dividends?
Common stock dividends will be paid on November 1, 2024, while preferred stock dividends are set for November 15, 2024.
Who qualifies for the dividends?
Shareholders of record on October 1, 2024, are eligible for common stock dividends, and those on record by October 15, 2024, for preferred stock dividends.
How does Rithm Capital manage risks in its investments?
Rithm Capital focuses on generating attractive risk-adjusted returns across varying market cycles and interest rates, maintaining a diversified portfolio.
What is Rithm Capital's operational focus?
Rithm Capital specializes in real estate, credit, and financial services, making strategic direct investments and operating several successful businesses.
