New Residential Investment Corp. (the “Company”; NYSE: NRZ) announced today that its Board of Directors has declared a third quarter 2013 common stock dividend of $0.175 per share. This is the first dividend declared by the Board for a full quarter of operations following the Company’s spin-off from Newcastle Investment Corp. in the middle of the second quarter of 2013. The Board previously declared a second quarter 2013 dividend of $0.07 per common share, which represented a half quarter, or forty-five days, of earnings from the spin-off on May 15, 2013 through the end of the second quarter. The third quarter dividend of $0.175 represents a $0.035, or 25%, increase over the implied dividend for an entire second quarter of operations. The dividend is payable on October 31, 2013 to shareholders of record on September 27, 2013.
ABOUT NEW RESIDENTIAL
New Residential focuses on opportunistically investing in, and actively managing, investments related to residential real estate. The Company primarily target investments in: (1) excess mortgage servicing rights (“Excess MSRs”), (2) residential mortgage backed securities (“RMBS”), (3) residential mortgage loans and (4) other related investments. New Residential is organized and conducts its operations to qualify as a real estate investment trust (“REIT”) for federal income tax purposes. The Company is managed by an affiliate of Fortress Investment Group LLC, a global investment management firm.
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