Redwood Trust, Inc. Announces Its First Quarter 2005 Dividend, Increasing Its Regular Quarterly Dividend Rate from $0.67 to $0.70 Per Share
biz.yahoo.com
Friday March 18, 6:00 am ET
MILL VALLEY, Calif.--(BUSINESS WIRE)--March 18, 2005--Redwood Trust, Inc., a financial institution that invests in, credit-enhances, and securitizes residential and commercial real estate loans and securities, today announced that its Board of Directors authorized the declaration of a first quarter regular dividend of $0.70 per share, representing a 4% increase from Redwood's 2004 regular dividend rate of $0.67 per share per quarter. The first quarter 2005 dividend is payable on April 21, 2005 to stockholders of record on March 31, 2005.
"We are pleased to announce this new $0.70 per share dividend rate," said George Bull, Redwood's Chairman and CEO. "Given the strength and growth of our business model, we feel confident in our ability to sustain this increase."
Redwood also announced that its Board of Directors has set May 5, 2005 as the date for the annual meeting of stockholders. The meeting will be held at 11:00 a.m. in Mill Valley, California. Stockholders of record as of March 31, 2005 will be entitled to vote at that meeting. |
