MILL VALLEY, Calif.--(BUSINESS WIRE)--
Redwood Trust, Inc. (NYSE:RWT) today announced that its Board of
Directors authorized the declaration of a third quarter regular
dividend for common shareholders of $0.75 per share. The third quarter
2007 dividend is payable on October 22, 2007 to stockholders of record
on September 28, 2007.
"We are pleased to once again declare our regular dividend.
Sustaining our regular dividend remains one of our primary goals,"
said George Bull, Redwood's Chairman and CEO.
Bull continued, "Through our ownership of residential
credit-enhancement securities, we currently credit-enhance $228
billion high-quality residential loans and $70 billion
institutional-quality commercial real estate loans. Our depth and
breadth of experience over the past thirteen years, our conservative
underwriting, our credit reserve policies, and the strength of our
balance sheet all give us confidence in our ability to continue to
credit-enhance new high-quality real estate loans. With our current
excess capital and cash position, we have the capacity to provide
significant additional credit-enhancement coverage for mortgage
originators of new high-quality loans and, in addition, to acquire
attractive assets that may become available during this period of
market turmoil. We remain confident about our ability to grow Redwood
Trust and to meet the needs of high-quality borrowers for many years
to come."
For more information about Redwood Trust, Inc., please visit our
website at: 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 2006 Annual Report on Form 10-K
under Item 1A "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, including Forms 10-K, 10-Q,
and 8-K. 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. In light of these risks, uncertainties, and
assumptions, the forward-looking events mentioned in, discussed in, or
incorporated by reference into this press release might not occur.
Accordingly, our actual results may differ from our current
expectations, estimates, and projections. We undertake no obligation
to publicly update or revise any forward-looking statements, whether
as a result of new information, future events, or otherwise.
Source: Redwood Trust, Inc.
Contact: Redwood Trust, Inc.
Lauren K. Morgensen, 415-384-3558
Martin S. Hughes, 415-389-7373