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Newcastle Investment Corp. (NYSE: NCT):
SECOND QUARTER 2012 HIGHLIGHTS
Core Earnings of $0.29 per diluted share
GAAP income of $0.21 per diluted share
Declared Common Dividend of $0.20 per share, or $29 million
$240 million of average un-invested capital in the quarter
SECOND QUARTER 2012 FINANCIAL RESULTS
Newcastle Investment Corp. (NYSE: NCT) reported that in the second quarter of 2012, income available for common stockholders (“GAAP income”) was $29 million, or $0.21 per diluted share, compared to $98 million, or $1.23 per diluted share, in the second quarter of 2011.
GAAP income of $29 million consisted of the following:
$39 million, or $0.29 per diluted share, which is equal to net interest income less expenses, net of preferred dividends
$1 million of other losses related to a $1 million net loss on the settlement of investments and a $1 million net loss in non-cash mark-to-market offset by $1 million of other fee income
$9 million of non-cash mark-to-market net loss on loans held for sale and impairment recorded on investments
During the second quarter of 2012, the Company generated $21 million of Cash Available for Distribution (“CAD”), compared to $20 million in the first quarter of 2012.
On June 13, 2012, the Board of Directors declared a quarterly dividend of $0.20 per common share, or $29 million, for the second quarter of 2012. The Board of Directors also declared dividends of $0.609375, $0.503125 and $0.523438 per share on the 9.75% Series B, 8.05% Series C and 8.375% Series D preferred stock, respectively, for the period beginning May 1, 2012 and ending July 31, 2012.