Redwood Trust Inc 8-K, filed Jun 10, 2021
Redwood Trust Inc (RWT)
About this 8-K
Redwood Trust Inc filed this 8-K on June 10, 2021.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
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CURRENT REPORT
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| Item 7.01. | Regulation FD Disclosure. |
On June 10, 2021, Redwood Trust, Inc. issued a press release announcing its Board of Directors’ authorization to declare a second quarter regular dividend of $0.18 per share. The second quarter 2021 dividend is payable on June 30, 2021 to stockholders of record on June 23, 2021.
The information contained in this Item 7.01 and the attached Exhibit 99.1 is furnished to and not filed with the Securities and Exchange Commission, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such filing.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits |
| Exhibit 99.1 | Press Release dated June 10, 2021 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Date: June 10, 2021 | REDWOOD TRUST, INC. | ||
| By: | /s/ Andrew P. Stone | ||
| Name: | Andrew P. Stone | ||
| Title: | Executive Vice President, Chief Legal Officer, and Secretary | ||
Exhibit 99.1
REDWOOD TRUST ANNOUNCES DIVIDEND INCREASE OF 13% FOR THE SECOND QUARTER OF 2021
MILL VALLEY, CA – Thursday, June 10, 2021 – Redwood Trust, Inc. (NYSE: RWT) today announced that its Board of Directors authorized a 13% increase in the company’s quarterly common stock dividend to $0.18 per share for the second quarter of 2021, up from $0.16 per share for the first quarter of 2021. This marks the company's 88th consecutive quarterly dividend. The second quarter 2021 dividend is payable on June 30, 2021 to stockholders of record on June 23, 2021.
"We are pleased to increase the dividend we pay to shareholders. The second quarter dividend marks the third dividend increase in the past year and represents the strength of the earnings power from both our operating platforms and our investment portfolio. We remain committed to delivering a stable to growing dividend while continuing to strategically deploy capital going forward," said Christopher J. Abate, Chief Executive Officer of Redwood Trust.
About Redwood Trust
Redwood Trust, Inc. (NYSE: RWT) is a specialty finance company focused on several distinct areas of housing credit. Our operating platforms occupy a unique position in the housing finance value chain, providing liquidity to growing segments of the U.S. housing market not served by government programs. We deliver customized housing credit investments to a diverse mix of investors, through our best-in-class securitization platforms; whole-loan distribution activities; and our publicly-traded shares. Our consolidated investment portfolio has evolved to incorporate a diverse mix of residential, business purpose and multifamily investments. Our goal is to provide attractive returns to shareholders through a stable and growing stream of earnings and dividends, capital appreciation, and a commitment to technological innovation that facilitates risk-minded scale. Since going public in 1994, we have managed our business through several cycles, built a track record of innovation, and a best-in-class reputation for service and a common-sense approach to credit investing. Redwood Trust 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 redwoodtrust.com.
Forward-Looking Statements: 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 2021 dividends and ability to deliver stable to growing dividends while deploying capital. 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, 2021 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.
CONTACT
Lisa Hartman – SVP, Head of Investor Relations
Phone: 866-269-4976
Email: investorrelations@redwoodtrust.com