NEW YORK, Dec. 15, 2022 /PRNewswire/ — Ready Capital Corporation (NYSE:RC) (the “Company”) announced that its Board of Directors declared a quarterly cash dividend of $0.40 per share of common stock and Operating Partnership unit for the quarter ended December 31, 2022. This dividend is payable on January 31, 2023, to shareholders of record as of the close of business on December 30, 2022, which is the effective record date since December 31, 2022, is not a business day.
“Over the past six quarters, we have delivered an above average dividend yield to our investors during the volatile period associated with the COVID-19 pandemic. Through our participation in the government’s Paycheck Protection Program (PPP), we generated meaningful value,” said Thomas Capasse, Ready Capital’s Chairman and Chief Executive Officer. “With the run-off of the income received from the program, the board of directors has aligned the dividend policy to historical targeted yields that are well-covered by our normalized distributable earnings.”