Redwood Trust Keeps Dividend Steady

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Real estate investment trust  Redwood Trust  announced today its third-quarter dividend of $0.28 per share, the same rate it's paid for the past two quarters after raising the payout 12% from $0.25 per share.

The board of directors said the quarterly dividend is payable on Sept. 30 to the holders of record at the close of business on Sept. 13.

Noting the importance of the quarterly payout, Redwood Trust CEO Marty Hughes said the "third quarter dividend will mark our 57th consecutive quarterly dividend." 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 6.7% based on the closing price today of Redwood Trust's stock.

RWT Dividend Chart

RWT Dividend data by YCharts

The article Redwood Trust Keeps Dividend Steady originally appeared on Fool.com.

Fool contributor Rich Duprey and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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