Redwood Trust cuts dividend by 30.4% in Q2 of 2023

On June 13, 2023, Redwood Trust, Inc. (RWT), a leader in expanding access to housing for homebuyers and renters, announced that its Board of Directors has declared second quarter 2023 common and preferred stock dividends. The dividend yield is 9.9% at a stock price of $6.47.

“Consistent with the commentary we provided during our first quarter 2023 earnings call, we believe the Board’s decision to align the common dividend with our anticipated near-to-medium term earnings profile enhances our ability to capitalize on growth opportunities across our businesses and is supported by our robust liquidity position,” said Christopher Abate, Chief Executive Officer of Redwood. “We remain committed to maintaining an attractive current yield for our shareholders, and as we deploy capital into our portfolio and operating platforms at higher risk-adjusted returns, our objective will be to continue driving the common dividend higher over time.”

The Board has authorized the declaration of a second quarter 2023 regular common stock dividend of $0.16 per share. This marks the Company's 96th consecutive quarterly common dividend. The second quarter 2023 common stock dividend is payable on June 30, 2023 to stockholders of record on June 23, 2023.

Redwood Trust, Inc. (NYSE: RWT) is a specialty finance company focused on several distinct areas of housing credit.