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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