MILL VALLEY, Calif.,
Feb. 27, 2020 /PRNewswire/ -- Redwood
Trust, Inc. (NYSE: RWT), a leading innovator in housing credit
investing, today announced its Board of Directors has declared a
6.7% increase in the company's regular quarterly common stock
dividend to $0.32 per share for the first quarter of
2020, up from $0.30 per
share. This also marks the company's 83rd consecutive
quarterly dividend. The first quarter 2020 dividend is payable
on March 30, 2020 to stockholders of record on March 16,
2020.
"We are pleased to increase the dividend we pay to our
shareholders. The higher dividend reflects our confidence in the
platform we have built and the durability of its earnings power,
specifically our prospects for profitable growth through existing
and recently-announced initiatives," said Christopher J. Abate, Chief Executive Officer of
Redwood Trust. "Our ability to raise our dividend despite the
market volatility we experienced over the past year demonstrates
the stability of our business model and diverse revenue streams.
Including today's dividend raise, we have increased our dividend
14% over the past two years. We remain committed to delivering
earnings that can continue to support a sustainable and growing
dividend to our shareholders over time," Abate concluded.
About Redwood Trust
Redwood Trust, Inc. (NYSE: RWT) is
a specialty finance company focused on making credit-sensitive
investments in single-family residential and multifamily mortgages
and related assets and engaging in mortgage banking activities. Our
goal is to provide attractive returns to shareholders through a
stable and growing stream of earnings and dividends, as well as
through capital appreciation. Redwood Trust was established in
1994, is internally managed, and structured as a real estate
investment trust ("REIT") for tax purposes. For more information
about Redwood, please visit our website at
www.redwoodtrust.com.
Cautionary Statement: This press release contains
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995,
including statements related to Redwood's 2020 regular dividends,
the durability of Redwood's earnings power, prospects for growth,
and ability to support a sustainable and growing dividend.
Forward-looking statements involve numerous risks and
uncertainties. Our actual results may differ from our beliefs,
expectations, estimates, and projections and, consequently, you
should not rely on these forward-looking statements as predictions
of future events. Forward-looking statements are not historical in
nature and can be identified by words such as "anticipate,"
"estimate," "will," "should," "expect," "believe," "intend,"
"seek," "plan" and similar expressions or their negative forms, or
by references to strategy, plans, or intentions. These
forward-looking statements are subject to risks and uncertainties,
including, among other things, those described in our Annual Report
on Form 10-K for the year ended December 31,
2018 under the caption "Risk Factors." Other risks,
uncertainties, and factors that could cause actual results to
differ materially from those projected may be described from time
to time in reports we file with the Securities and Exchange
Commission, including reports on Forms 10-Q and 8-K. We undertake
no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events, or
otherwise.
CONTACTS
Lisa M. Hartman
SVP, Head of Investor Relations
Phone: 866-269-4976
Email: investorrelations@redwoodtrust.com
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SOURCE Redwood Trust, Inc.