RAIT Financial (RAS) Declares $0.09 Quarterly Dividend; Reaffirms Q4 CAD Guidance

RAIT Financial (NYSE: RAS) declared a quarterly dividend of $0.09 per share, or $0.36 annualized. The dividend will be payable on January 29, 2016, to stockholders of record on January 8, 2016, with an ex-dividend date of January 6, 2016. The annual yield on the dividend is 8.9 percent.

Scott Schaeffer, RAIT’s Chairman and CEO, said, “We are reaffirming RAIT’s Q4 2015 CAD guidance of $0.22-$0.23 per common share as RAIT’s core lending platform continues to perform. We are also continuing with our previously announced capital recycling strategy. However, the Board has reviewed RAIT’s quarterly common dividend level and determined that a reduction to $0.09 per common share is appropriate in the current capital market environment. This action by the Board generates immediate capital availability to support the lending platform while maintaining RAIT’s capital flexibility."

For a dividend history and other dividend-related data on RAIT Financial (RAS) click here.

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