Redwood Trust Maintains $0.28 Dividend
Real estate investment trust Redwood Trust announced yesterday its second-quarter dividend of $0.28 per share, the same rate it paid last quarter when it raised it 12% from $0.25 per share.
The board of directors said the quarterly dividend is payable on June 28 to the holders of record at the close of business on June 14. Redwood had maintained the dividend at the $0.25 level since 2009 after the payout was slashed from $0.75 per share during the depths of the recession.
The regular dividend payment equates to a $1.12-per-share annual dividend yielding 5.3% based on the closing price of Redwood Trust's stock on May 16.
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