MILL VALLEY, Calif.--(BUSINESS WIRE)--March 21, 2003--Redwood
Trust, Inc. (NYSE:RWT), an investor in real estate loans, today
announced that its Board of Directors declared a regular cash dividend
for common shareholders of $0.65 per share for the first quarter of
2003, payable on April 21, 2003 to common shareholders of record on
March 31, 2003. This represents a 3% increase from the previous
quarter's regular dividend rate of $0.63 per share.
"We are proud to announce another increase in our regular dividend
rate," said George Bull, Redwood's Chairman and CEO. "Our growth in
equity and long-term assets over the past few years, combined with the
retention of a portion of our earnings, has improved our outlook for
generating a higher level of sustainable dividends for our
shareholders."
In accordance with the terms of Redwood's Class B Preferred Stock,
the Board of Directors declared a first quarter 2003 preferred stock
dividend of $0.755 per share. This preferred stock dividend is payable
on April 21, 2003 to preferred shareholders of record on March 31,
2003.
Redwood also announced that the Board of Directors has set May 8,
2003 as the date for the annual meeting of shareholders. The meeting
will be held at 11:00 a.m. in Mill Valley, California. Shareholders of
record as of March 31, 2003 will be entitled to vote at that meeting.
For more information about Redwood Trust, Inc., please visit
www.redwoodtrust.com.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Certain matters discussed in this news release may
constitute forward-looking statements within the meaning of the
federal securities laws that inherently include certain risks and
uncertainties. Actual results and the timing of certain events could
differ materially from those projected in or contemplated by the
forward-looking statements due to a number of factors, including,
among other things, changes in interest rates on our mortgage assets
and borrowings, changes in prepayment rates on our mortgage assets,
general economic conditions, particularly as they affect the price of
mortgage assets and the credit status of borrowers, and the level of
liquidity in the capital markets, as it affects our ability to finance
our mortgage asset portfolio, and other risk factors outlined in the
Company's 2001 Annual Report on Form 10-K and our Prospectus
Supplement dated April 23, 2002 (available on the Company's Web site
or by request to the Contacts listed above). Other factors not
presently identified may also cause actual results to differ. No one
should assume that results or trends projected in or contemplated by
the forward-looking statements included above will prove to be
accurate in the future. We will revise our outlook from time to time
and frequently will not disclose such revisions publicly.
CONTACT: Redwood Trust, Inc.
Doug Hansen/George Bull, 415/389-7373
SOURCE: Redwood Trust, Inc.