New Residential Investment Corp. (the “Company”; NYSE:NRZ) announced today that on December 17, 2013 its Board of Directors declared a fourth quarter 2013 dividend of $0.175 per common share and a special cash dividend of $0.075 per common share. The combined dividend of $0.25 is payable on January 31, 2014, to shareholders of record as of December 30, 2013. The Company is making the special dividend in connection with REIT distribution requirements.
Including the Company’s fourth quarter dividend and special dividend, the Company will have declared an aggregate cash dividend of $0.495 since May 15, 2013, when the Company spun-off from Newcastle Investment Corp.
New Residential intends to make regular quarterly distributions, which include all or substantially all of the Company’s REIT taxable income. Distributions will be authorized by the Company’s Board of Directors and declared by the Company based on a number of factors including actual results of operations, liquidity and financial condition restrictions under Delaware law, its taxable income, its operating expenses and other factors its Board of Directors deem relevant.
ABOUT NEW RESIDENTIALNew Residential focuses on opportunistically investing in, and actively managing, investments related to residential real estate. The Company primarily targets investments in: (1) mortgage servicing related assets, (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.