NRZ - New Residential Investment Raises Its Dividend by 50%
For the second quarter in a row, New Residential Investment (NYSE: NRZ) is lifting its most important shareholder payout. The mortgage real estate investment trust (mREIT) announced after market close Wednesday that it has declared a fresh set of quarterly dividends. The company's common stock distribution is being raised by 50% to $0.15 per share. This will be paid on Oct. 30 to investors of record as of Oct. 5.
That dividend has been quite the roller-coaster of late. The previous raise was 100%, as the company doubled it from $0.05 to $0.10. But the former amount was cut drastically from the preceding $0.50 per share, which New Residential had kept steady since mid-2017.
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New Residential Investment Raises Its Dividend by 50%