And fifth, and also importantly, we paid our $0.25 dividend after earning $0.27 per share of net income. We focused this quarter on making investments and repositioning our commercial real estate mortgage origination business. We are doing this with $200 million of cash on the balance sheet and no short-term debt. We spent the last few years in defensive mode and that left us well positioned.We are now officially on the offense, our ability to play defense is demonstrated by our deleveraging to discount purchases of our bonds and by the performance of our overall portfolio throughout the financial crisis and after. As one can see, our credit seems to be getting better with write-offs and reserves going down by 50% quarter-over-quarter.
Resource Capital Management Discusses Q3 2010 Results – Earnings Call Transcript
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