Newcastle Investment Declares Q3 Dividends

In line with several of its high-profile REIT peers, Newcastle Investment (NYSE: NCT  ) is reducing its common stock payout. The company has declared dividends for its Q3, chiefly a common stock distribution of $0.10 per share to be dispensed on October 31 to shareholders of record as of September 30. That amount is $0.07 less than Newcastle's previous distribution, although the firm pointed out that that amount was attributable to its former subsidiary New Residential Investment (NYSE: NRZ  ) , now a separate company. New Residential was spun off from Newcastle in the middle of Q2.

Newcastle also declared dividends on its series B, C, and D preferred shares. These are to be $0.609375, $0.503125, and $0.523438 per share, respectively. The payment and record dates are the same as those for the common shares.

The just-declared common stock dividend annualizes to $0.40 per share. That yields 7.1% at Newcastle's most recent closing stock price of $5.66.


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  • Report this Comment On September 20, 2013, at 10:51 PM, ghstflame wrote:

    I still view this as a "complete" hold with NRZ the spun off shares, as a whole they are now up to .27/quarter which is UP from .22 back in Q1.

    Great stuff.

  • Report this Comment On September 21, 2013, at 1:22 PM, postnasaldrip wrote:

    I think the author could have written the article with a different description of the .10 dividend. It would have been clearer to many readers if it had said: "NCT had declared a .10 dividend for the quarter, which maintained the previous quarter's payout. Last quarter, NCT's dividend was .17, which included .07 in earnings which were attributed to it's spin off, NRZ and are no longer owned by NCT. By putting that information at the end of his article it is not clear in the context of the article. The NCT/NRZ combo, is now paying .275 per quarter (10%).

  • Report this Comment On September 21, 2013, at 4:02 PM, awallejr wrote:

    Agree with the comments. Also NCT plans to spinoff Gatehouse Media to the shareholders.

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