New Residential Increases Second Quarter Dividend to $0.50 Per Common Share
June 21 2017 - 4:34PM
Business Wire
New Residential Investment Corp. (NYSE:NRZ; “New Residential” or
the “Company”) announced today that its Board of Directors declared
a quarterly dividend of $0.50 per common share for the second
quarter of 2017, up from $0.48 per common share in the first
quarter of 2017. The dividend is payable on July 28, 2017 to
shareholders of record on July 3, 2017.
“This marks the second time New Residential increased its
quarterly dividend this year, reflecting our longstanding
commitment to grow earnings and optimize returns for our
shareholders,” said Michael Nierenberg, Chief Executive Officer of
New Residential.
ABOUT NEW RESIDENTIAL
New Residential focuses on opportunistically investing in, and
actively managing, investments related to residential real estate.
The Company primarily targets investments in mortgage servicing
related assets and other related opportunistic investments. New
Residential is organized and conducts its operations to qualify as
a real estate investment trust (“REIT”) for federal income tax
purposes. The Company is managed by an affiliate of Fortress
Investment Group LLC (NYSE:FIG), a global investment management
firm.
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