Newcastle Investment Declares Fresh Set of Dividends

Newcastle Investment (NYSE: NCT  ) shareholders will find a little less money in their pockets following a reduction in the company's common stock dividend. A fresh quarterly payout of $0.17 per share will be handed out on July 31 to shareholders of record as of June 13. That amount is a nickel lower than the firm's previous distribution of $0.22 per share. The upcoming payout, however, will be the first one since Newcastle completed the divestment of onetime subsidiary New Residential Investment.

Newcastle also declared dividends for its series B, C, and D preferred stock. These amount to $0.609375, $0.503125 and $0.523438 per share, respectively. The record and payment dates are the same as with the company's common stock.

The new common stock dividend annualizes to $0.68 per share. That yields 13.3% at Newcastle's most recent closing share price of $5.10.


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  • Report this Comment On June 03, 2013, at 10:43 PM, RichardT1 wrote:

    You missed the boat on this one. NCT spun off part

    of their assets to NRZ and issued one share of NRZ for each share of NCT owned. So to compare apples with apples you have to add both dividends to compare with the old NCT dividend. 17 cents plus 7 cents = 24 cents compared to the last dividend of 22 cents for NCT An increase not a decrease.

  • Report this Comment On June 03, 2013, at 10:47 PM, RichardT1 wrote:

    Don't feel too bad about the oversight. Scottrade also erred when posting this spinoff to my account.

  • Report this Comment On June 04, 2013, at 10:14 AM, TLDelta wrote:

    I concur with RichardT1 on this, as comparing the pre-spinoff NCT to the post spinoff NCT is certainly not a valid comparison in regard to dividend payouts.Given the "1 NRZ share for each 1 NCT share " spinoff metric,one does indeed see a 2 cent per share increase in dividend,provided one owned NCT shares pre-spinoff and has retained shares in both NCT and NRZ in the post spinoff period.

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