Resource Capital Corp. Declares Quarterly Cash Dividends for Preferred Stock
NEW YORK, NY -- (MARKETWIRE) -- 03/18/13 -- Resource Capital Corp. (NYSE: RSO) (the "Company") announced today that it will pay a cash dividend on its 8.50% Series A Cumulative Redeemable Preferred Stock for the period from January 31, 2013 through and including April 30, 2013 in the amount of $0.53125 per share. The dividend will be payable on April 30, 2013 to holders of record on April 1, 2013.
Resource Capital Corp. will also pay a cash dividend on its 8.25% Series B Cumulative Redeemable Preferred Stock for the period from January 31, 2013 through and including April 30, 2013 in the amount of $0.515625 per share. The dividend will be payable on April 30, 2013 to holders of record on April 1, 2013.
RSO is a diversified real estate finance company that is organized and conducts its operations to qualify as a REIT for federal income tax purposes. RSO's investment strategy focuses on CRE assets, and, to a lesser extent, commercial finance assets and other investments. RSO invests in the following asset classes: CRE-related assets such as commercial real estate property, whole loans, A-notes, B-notes, mezzanine loans, CMBS and investments in real estate joint ventures as well as commercial finance assets such as bank loans, lease receivables, other asset-backed securities, corporate bonds, trust preferred securities, debt tranches of CDOs, structured note investments, and private equity investments principally issued by financial institutions.
RSO is externally managed by Resource Capital Manager, Inc., an indirect wholly-owned subsidiary of Resource America, Inc. (NASDAQ: REXI), a specialized asset management company that uses industry specific expertise to generate and administer investment opportunities for its own account and for outside investors in the real estate, financial fund management and commercial finance sectors.
This press release includes statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management's control. Factors that can affect future results are discussed in the documents filed by Resource Capital Corp. from time to time with the Securities and Exchange Commission. Resource Capital Corp. undertakes no obligation to update or revise any forward-looking statement to reflect new or changing information or events.