REDWOOD
TRUST DECLARES $0.25 PER SHARE DIVIDEND
FOR
THE FOURTH QUARTER OF 2010
MILL VALLEY,
CA – Monday, November 15, 2010 – Redwood Trust, Inc.
(NYSE:RWT) today announced that its Board of Directors authorized the
declaration of a fourth quarter regular dividend of $0.25 per
share. The fourth quarter 2010 dividend is payable on January 21,
2011 to stockholders of record on December 31, 2010.
The Board
of Directors also announced its intention to continue to pay a regular dividend
of $0.25 per share per quarter in 2011.
“The
payment of regular dividends remains a priority for Redwood. Our fourth
quarter dividend will mark our 46th consecutive quarterly dividend," said Martin
S. Hughes, Redwood's President and CEO.
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 meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements involve numerous risks
and uncertainties. Our actual results may differ from our beliefs, expectations,
estimates, and projections and, consequently, you should not rely on these
forward-looking statements as predictions of future events. Forward-looking
statements are not historical in nature and can be identified by words such as
“anticipate,” “estimate,” “will,” “should,” “expect,” “believe,” “intend,”
“seek,” “plan” and similar expressions or their negative forms, or by references
to strategy, plans, or intentions. These forward-looking statements are subject
to risks and uncertainties, including, among other things, those described in
our Annual Report on Form 10-K for the year ended December 31, 2009, under the
caption “Risk Factors.” Other risks, uncertainties, and factors that could cause
actual results to differ materially from those projected are described below and
may be described from time to time in reports we file with the Securities and
Exchange Commission (SEC), including reports on Forms 10-Q and 8-K. We undertake
no obligation to update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise.
Important
factors, among others, that may affect our actual results include: general
economic trends, the performance of the housing, mortgage, credit, and broader
financial markets, and their effects on the prices of earning assets and the
credit status of borrowers; federal and state legislative and regulatory
developments, and the actions of governmental authorities, including those
affecting the mortgage industry or our business; our exposure to credit risk and
the timing of credit losses within our portfolio; the concentration of the
credit risks we are exposed to, including due to the structure of assets we hold
and the geographical concentration of real estate underlying assets we own; our
exposure to adjustable-rate and negative amortization mortgage loans; the
efficacy and expense of our efforts to manage or hedge credit risk, interest
rate risk, and other financial and operational risks; changes in credit ratings
on assets we own and changes in the rating agencies’ credit rating
methodologies; changes in interest rates; changes in mortgage prepayment rates;
the availability of high-quality assets for purchase at attractive prices and
our ability to reinvest cash we hold; changes in the values of assets we own;
changes in liquidity in the market for real estate securities; our ability to
finance the acquisition of real estate-related assets with short-term debt; the
ability of counterparties to satisfy their obligations to us; our involvement in
securitization transactions and the risks we are exposed to in executing
securitization transactions; exposure to litigation arising from our involvement
in securitization transactions; whether we have sufficient liquid assets to meet
short-term needs; our ability to successfully compete and retain or attract key
personnel; our ability to adapt our business model and strategies to changing
circumstances; changes in our investment, financing, and hedging strategies and
new risks we may be exposed to if we expand our business activities; exposure to
environmental liabilities and the effects of global climate change; failure to
comply with applicable laws and regulations; our failure to maintain appropriate
internal controls over financial reporting and disclosure controls and
procedures; changes in accounting principles and tax rules; our ability to
maintain our status as a real estate investment trust (REIT) for tax purposes;
limitations imposed on our business due to our REIT status and our status as
exempt from registration under the Investment Company Act of 1940; decisions
about raising, managing, and distributing capital; and other factors not
presently identified.
