New Residential Increases Quarterly Dividend by 18 Percent
NEW YORK--(BUSINESS WIRE)-- New Residential Investment Corp. (“New Residential” or the “Company”; NYSE:NRZ) is pleased to announce today that its Board of Directors approved an 18 percent increase in the regular quarterly cash dividend, from $0.38 per common share in the first quarter of 2015 to $0.45 per common share for the second quarter of 2015. The increased dividend is payable on July 24, 2015 to shareholders of record on May 26, 2015. In future quarters, New Residential expects to return to its past practice of announcing any dividend declaration shortly prior to the end of the quarter with respect to which the dividend relates.
“Looking ahead, we remain confident in our ability to generate consistently strong returns for our shareholders and to excel as one of the leading capital providers in the mortgage business.” said New Residential Chief Executive Officer Michael Nierenberg.
ABOUT NEW RESIDENTIAL
New Residential focuses on opportunistically investing in, and actively managing, investments related to residential real estate. The Company primarily targets investments in mortgage servicing related assets and other related opportunistic 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 (NYSE: FIG), a global investment management firm.
Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements regarding the expected timing of any future dividends, and the ability to generate consistently strong returns and to excel as a leading capital provider in the mortgage business. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond the Company’s control. The Company can give no assurance that its expectations will be attained. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” incorporated by reference in the Company’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, which are available on the Company’s website (www.newresi.com). In addition, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.
New Residential Investment Corp.
Investor Relations, 212-479-3150
Source: New Residential Investment Corp.
Released May 14, 2015