New Residential Investment Corp. (the “Company”; NYSE:NRZ) announced
today that on December 17, 2013 its Board of Directors declared a fourth
quarter 2013 dividend of $0.175 per common share and a special cash
dividend of $0.075 per common share. The combined dividend of $0.25 is
payable on January 31, 2014, to shareholders of record as of December
30, 2013. The Company is making the special dividend in connection with
REIT distribution requirements.
Including the Company’s fourth quarter dividend and special dividend,
the Company will have declared an aggregate cash dividend of $0.495
since May 15, 2013, when the Company spun-off from Newcastle Investment
Corp.
New Residential intends to make regular quarterly distributions, which
include all or substantially all of the Company’s REIT taxable income.
Distributions will be authorized by the Company’s Board of Directors and
declared by the Company based on a number of factors including actual
results of operations, liquidity and financial condition restrictions
under Delaware law, its taxable income, its operating expenses and other
factors its Board of Directors deem relevant.
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: (1) mortgage servicing related assets,
(2) residential mortgage backed securities (“RMBS”), (3) residential
mortgage loans and (4) other related 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, a global
investment management firm.
Copyright Business Wire 2013