Published on 21 Mar 2024 on Zacks via Yahoo Finance

Unraveling Rithm Capital's (RITM) Q1 Dividend Announcement

Rithm Capital Corp. RITM announced that its board has approved dividends for both common and preferred stocks for the first quarter of 2024. The first-quarter common stock dividend remains unchanged at 25 cents per share. Last year, the company paid out $483.2 million in common dividends. Shareholders of record as of Apr 1, 2024, will receive the dividend, payable on Apr 26.

For the first quarter, RITM’s Board also declared Series A, Series B, Series C and Series D dividends per share of 46.9 cents, 44.5 cents, 39.8 cents and 43.8 cents, respectively. The dividends will be paid on May 15, 2024, to preferred stockholders of record as of Apr 15.

Starting from 2013, RITM paid dividends of around $5 billion. The company continues to maintain a higher-than-industry dividend yield. Based on the closing price of $11.16 per share on Mar 20, the stock has a dividend yield of almost 9%, which is higher than the industry average of 2.2%.