New Residential Investment Corp. Declares Second Quarter 2020 Common and Preferred Stock Dividends
June 22 2020 - 4:30PM
Business Wire
New Residential Investment Corp. (“NRZ,” “New Residential,” the
“Company”) announced today that its Board of Directors (the
“Board”) has declared second quarter 2020 common and preferred
stock dividends.
“We are pleased to announce a common dividend increase for the
second quarter of 2020,” said Michael Nierenberg, Chairman, Chief
Executive Officer and President of New Residential. “While the
COVID-19 pandemic wreaked havoc on markets during the first
quarter, we have seen strong improvement throughout the second
quarter as government stimulus programs and positive market
sentiment have helped stabilize markets. During the second quarter,
our operating company has continued to perform well, non-agency
asset values have increased, and we have meaningfully decreased the
mark to market exposure of our portfolio. We are confident that our
operating business and investment portfolio will continue to help
create value for our shareholders.”
Common Stock Dividend
The Board declared a quarterly dividend of $0.10 per common
share for the second quarter 2020. The dividend is payable on July
31, 2020 to common shareholders of record on July 2, 2020.
Preferred Stock Dividends
In accordance with the terms of New Residential’s 7.50% Series A
Cumulative Redeemable Preferred Stock (“Series A”), the Board
declared a Series A dividend for the second quarter 2020 of
$0.46875 per share.
In accordance with the terms of New Residential’s 7.125% Series
B Cumulative Redeemable Preferred Stock (“Series B”), the Board
declared a Series B dividend for the second quarter 2020 of
$0.4453125 per share.
In accordance with the terms of New Residential’s 6.375% Series
C Cumulative Redeemable Preferred Stock (“Series C”), the Board
declared a Series C dividend for the second quarter 2020 of
$0.3984375 per share.
Dividends for the Series A, Series B and Series C are payable on
August 14, 2020 to preferred shareholders of record on July 15,
2020.
ABOUT NEW RESIDENTIAL
New Residential is a leading provider of capital and services to
the mortgage and financial services industries with a proven track
record of returns and performance. The Company’s mission is to
generate attractive risk-adjusted returns in all interest rate
environments through a portfolio of investments and operating
businesses. New Residential has built a diversified,
hard-to-replicate portfolio with high-quality investment strategies
that have generated returns across different interest rate
environments over time. New Residential’s portfolio is composed of
mortgage servicing related assets (including investments in
operating entities consisting of servicing, origination, and
affiliated businesses), residential securities (and associated
called rights) and loans, and consumer loans. New Residential’s
investments in operating entities include its mortgage origination
and servicing subsidiary, NewRez, and its special servicing
division, Shellpoint Mortgage Servicing, as well as investments in
affiliated businesses that provide services that are complementary
to the origination and servicing businesses and other portfolios of
mortgage related assets. Since inception in 2013, New Residential
has a proven track record of performance, growing and protecting
the value of its assets while generating attractive risk-adjusted
returns and delivering approximately $3.3 billion in dividends to
shareholders. New Residential is organized and conducts its
operations to qualify as a real estate investment trust (“REIT”)
for federal income tax purposes. New Residential is managed by an
affiliate of Fortress Investment Group LLC, a global investment
management firm, and headquartered in New York City.
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version on businesswire.com: https://www.businesswire.com/news/home/20200622005691/en/
New Residential Investor Relations Kaitlyn Mauritz
212-479-3150 IR@NewResi.com
New Residential Investment (NYSE:NRZ)
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