New Residential Investment Corp 7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

By: ,

Date Issued 8/8/2019

Shares Issued 10,000,000 Overallotment Shares 1,500,000

Security Ticker Symbol  NRZ-B OTC Temp Ticker – NRZEP


Market Traded On   NYSE

Dividend Payment Paid on the 15th of  February, May, August and November beginning on 11/15/2019

Quarterly Dividend   .445  Annual Dividend   1.781

Beginning 8/15/2024 the coupon will float at the rate of 3 month Libor plus a fixed base of 5.640%

Securities may be redeemed, at the issuers option, as early as 8/15/2024 for a redemption price of $25/share plus accrued dividends.

Dividend Payment Will NOT BE  a Qualified Distribution–preferred stock of REITs do not pay qualified dividends.

Maturity Date   None

Click here to find the offering Prospectus and/or Final Pricing Document


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Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
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