Aligning dividends with long-term growth goals

  • Ready Capital cuts quarterly cash dividend to 25c per share
  • Dividend reduction from 30c per share
  • Decision aims to align with long-term growth objectives
  • Earnings expected to move towards historical performance targets

Ready Capital has announced a reduction in its quarterly cash dividend from 30 cents per share to 25 cents per share for the quarter ended September 30. The company’s chairman and CEO, Thomas Capasse, explained that this decision is aimed at better aligning the dividend with their long-term growth objectives while maintaining confidence in the company’s ability to reach historical performance targets. The new dividend of $1 annually represents a yield of 12.9% based on the closing share price of $7.71. This follows a previous reduction in December, where the dividend was cut from 36 cents per share.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about Ready Capital’s decision to lower its quarterly cash dividend and explains the reasoning behind it. It also includes relevant details such as the previous dividend amount, the new dividend yield, and a comparison to the previous reduction in December. The information is not sensationalized or misleading.
Noise Level: 4
Noise Justification: The article provides relevant information about a company’s decision to adjust its dividend and includes comments from the CEO explaining the reasoning behind it. However, it lacks in-depth analysis or exploration of long-term trends or consequences for stakeholders.
Public Companies: Ready Capital ()
Key People: Thomas Capasse (Chairman and Chief Executive)

Financial Relevance: Yes
Financial Markets Impacted: Ready Capital’s stock and related financial markets
Financial Rating Justification: The article discusses a change in Ready Capital’s dividend, which affects the company’s financial performance and can impact its stock price and investor sentiment.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text and it’s not related to any of the given categories.
Move Size: No market move size mentioned.
Sector: Finance
Direction: Down
Magnitude: Small
Affected Instruments: Stocks

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