MILL VALLEY, Calif.--(BUSINESS WIRE)--March 18, 2005--Redwood
Trust, Inc. (NYSE:RWT), a financial institution that invests in,
credit-enhances, and securitizes residential and commercial real
estate loans and securities, today announced that its Board of
Directors authorized the declaration of a first quarter regular
dividend of $0.70 per share, representing a 4% increase from Redwood's
2004 regular dividend rate of $0.67 per share per quarter. The first
quarter 2005 dividend is payable on April 21, 2005 to stockholders of
record on March 31, 2005.
"We are pleased to announce this new $0.70 per share dividend
rate," said George Bull, Redwood's Chairman and CEO. "Given the
strength and growth of our business model, we feel confident in our
ability to sustain this increase."
Redwood also announced that its Board of Directors has set May 5,
2005 as the date for the annual meeting of stockholders. The meeting
will be held at 11:00 a.m. in Mill Valley, California. Stockholders of
record as of March 31, 2005 will be entitled to vote at that meeting.
For more information about Redwood Trust, Inc., please visit
www.redwoodtrust.com.
Cautionary Statement
This press release contains forward-looking statements within the
safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Statements that are not historical in nature, including the
words "anticipated," "estimated," "should," "expect," "believe,"
"intend," and similar expressions, are intended to identify
forward-looking statements. These forward-looking statements are
subject to risks and uncertainties, including, among other things,
those described in our Annual Report on Form 10-K under the caption
"Risk Factors." Other risks, uncertainties, and factors that could
cause actual results to differ materially from those projected are
detailed from time to time in reports filed by us with the Securities
and Exchange Commission, or SEC, including Forms 10-Q and 8-K.
We undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise. In light of these risks, uncertainties,
and assumptions, the forward-looking events mentioned, or discussed
in, this press release might not occur. Accordingly, our actual
results may differ from our current expectations, estimates, and
projections.
Important factors that may impact our actual results include
changes in interest rates and market values; changes in prepayment
rates; general economic conditions, particularly as they affect the
price of earning assets and the credit status of borrowers; the level
of liquidity in the capital markets as it affects our ability to
finance our real estate asset portfolio; and other factors not
presently identified. For a discussion of risk factors, readers should
review the section of our Annual Report on Form 10-K entitled "Risk
Factors." This press release contains statistics and other data that
in some cases have been obtained from, or compiled from information
made available, by servicers and other third-party service providers.
CONTACT: Redwood Trust, Inc.
Harold Zagunis or Nicole Klock, 415-389-7373
SOURCE: Redwood Trust, Inc.