Ready Capital Corporation declared a $0.25 quarterly dividend and dividends for preferred stock, payable January 2025.
Quiver AI Summary
Ready Capital Corporation (NYSE:RC) announced a quarterly cash dividend of $0.25 per share of common stock for the quarter ending December 31, 2024, payable on January 31, 2025, to shareholders of record as of December 31, 2024. Additionally, the company declared dividends of $0.390625 per share for its 6.25% Series C Cumulative Convertible Preferred Stock, payable on January 15, 2025, and $0.40625 per share for its 6.50% Series E Cumulative Redeemable Preferred Stock, payable on January 31, 2025, both to stockholders of record as of December 31, 2024. Ready Capital Corporation is a real estate finance firm based in New York, focusing on various commercial real estate loans.
Potential Positives
- The declaration of a quarterly cash dividend of $0.25 per share demonstrates the company's commitment to returning value to shareholders.
- The payment of dividends on multiple series of preferred stock indicates a strong financial position and consistent income generation capabilities.
- Setting a record date for dividends provides clarity and confidence to investors regarding their expected returns.
- The company's focus on lower-to-middle-market real estate financing suggests a strategic niche that may provide growth opportunities and resilience in the market.
Potential Negatives
- The announcement of a quarterly dividend may indicate that the company is prioritizing short-term payouts over long-term growth or reinvestment opportunities, which could concern some investors.
- The timing of the dividends suggests the company may be facing cash flow assessments that might need to be reconsidered, particularly if future dividends are not sustained.
- Details on the company's current financial health and performance metrics were not provided, leaving potential investors uncertain about the company's profitability and growth prospects.
FAQ
What is the quarterly cash dividend declared by Ready Capital Corporation?
The Board of Directors declared a quarterly cash dividend of $0.25 per share for the quarter ended December 31, 2024.
When is the dividend payable to shareholders?
The dividend is payable on January 31, 2025, to shareholders of record as of December 31, 2024.
What dividends were declared for the Series C and Series E Preferred Stocks?
A dividend of $0.390625 per share for Series C and $0.40625 per share for Series E was declared.
When will the Series C and Series E Preferred Stock dividends be payable?
The Series C dividend is payable on January 15, 2025, while the Series E dividend is payable on January 31, 2025.
What does Ready Capital Corporation specialize in?
Ready Capital Corporation specializes in financing and servicing lower-to-middle-market commercial real estate loans.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$RC Hedge Fund Activity
We have seen 119 institutional investors add shares of $RC stock to their portfolio, and 142 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKROCK, INC. added 1,461,416 shares (+5.5%) to their portfolio in Q3 2024
- WASHINGTON TRUST BANK removed 1,228,607 shares (-100.0%) from their portfolio in Q2 2024
- BALYASNY ASSET MANAGEMENT L.P. added 1,127,457 shares (+39.6%) to their portfolio in Q3 2024
- MASON CAPITAL MANAGEMENT LLC added 838,856 shares (+inf%) to their portfolio in Q3 2024
- FIRST TRUST ADVISORS LP removed 778,592 shares (-62.1%) from their portfolio in Q3 2024
- MIRAE ASSET GLOBAL INVESTMENTS CO., LTD. removed 755,254 shares (-100.0%) from their portfolio in Q2 2024
- CLEAR HARBOR ASSET MANAGEMENT, LLC added 657,465 shares (+84.0%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
NEW YORK, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the "Company") announced that its Board of Directors declared a quarterly cash dividend of $0.25 per share of common stock and Operating Partnership unit for the quarter ended December 31, 2024. This dividend is payable on January 31, 2025, to shareholders of record as of the close of business on December 31, 2024.
Additionally, the Company announced that its Board of Directors declared quarterly cash dividends on its 6.25% Series C Cumulative Convertible Preferred Stock (the "Series C Preferred Stock"), and its 6.50% Series E Cumulative Redeemable Preferred Stock (the "Series E Preferred Stock").
The Company declared a dividend of $0.390625 per share of Series C Preferred Stock payable on January 15, 2025, to Series C Preferred stockholders of record as of the close of business on December 31, 2024.
The Company declared a dividend of $0.40625 per share of Series E Preferred Stock payable on January 31, 2025, to Series E Preferred stockholders of record as of the close of business on December 31, 2024.
About Ready Capital Corporation
Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services lower-to-middle-market investor and owner occupied commercial real estate loans. The Company specializes in loans backed by commercial real estate, including agency multifamily, investor, construction, and bridge as well as U.S. Small Business Administration loans under its Section 7(a) program. Headquartered in New York, New York, the Company employs approximately 350 professionals nationwide.
Contact
Investor Relations
212-257-4666
InvestorRelations@readycapital.com
Media Relations
PR@readycapital.com
