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Ladder Capital (LADR) Raises Quarterly Dividend 9.1% to $0.30; Will Pay $0.16/Share Year-End Distribution

December 2, 2016 7:27 AM EST

Ladder Capital (NYSE: LADR) announced the declaration by its Board of Directors (“Board”) of a fourth quarter 2016 dividend of $0.46 per share of Class A common stock.

This declaration reflects a 9.1% increase in Ladder’s recurring quarterly cash dividend, effective in the current quarter, to $0.30 per share from $0.275 per share.

The fourth quarter dividend also includes an additional year-end distribution attributable to our 2016 REIT taxable income of approximately $0.16 per share of Class A common stock. As discussed below, the full fourth quarter dividend of $0.46 per share will be paid in a combination of cash and stock on January 24, 2017 to stockholders of record as of the close of business on December 27, 2016 (the “Record Date”).

Stockholders may elect to receive the fourth quarter 2016 dividend in all cash (a “Cash Election”), or all shares of Ladder’s Class A common stock (a “Share Election”). Election forms and materials will be mailed to registered shareholders promptly after the Record Date, and will be due by January 12, 2017. Stockholders who do not return an election form, or who otherwise fail to properly complete an election form, will be deemed to have made a Share Election.

In no event will any stockholder making a Cash Election receive less than $0.30 per share of such stockholder’s dividend in cash. The Board currently intends to continue paying a regular cash dividend of $0.30 per share in subsequent quarters, subject to business and market conditions and future Board approvals.

The total amount of cash payable to all stockholders will be equal to $0.30 multiplied by the total outstanding shares of Class A common stock as of the Record Date (the “Cash Amount”). If the aggregate amount of cash to be distributed to stockholders making Cash Elections exceeds the Cash Amount, then the Cash Amount will be prorated among such stockholders, and the remaining portion of the fourth quarter 2016 dividend will be paid to such stockholders in shares of Ladder’s Class A common stock plus cash in lieu of any fractional shares.

The total number of shares of Class A common stock to be distributed pursuant to the fourth quarter 2016 dividend will be determined based on stockholder elections and the volume weighted average price per share of Class A common stock on the New York Stock Exchange for the three trading days after the date that election forms are due. Shares of Class A common stock distributed as part of Ladder’s fourth quarter 2016 dividend shall accrue dividend and other benefits together with all other shares of Ladder’s Class A common stock.

For a dividend history and other dividend-related data on Ladder Capital (LADR) click here.



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