New Residential Investment Corp 7.50% Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
By: Tim McPartland,
Date Issued 6/25/2019
Shares Issued 5,400,000 Overallotment Shares 810,000
Security Ticker Symbol NRZ-A OTC Temp Ticker – NRXPP
Market Traded On NYSE
Dividend Payment Paid on the 15th of February, May, August and November beginning on 11/15/2019
Quarterly Dividend .4688 Annual Dividend 1.875
Beginning 8/15/2024 the coupon will float at the rate of 3 month Libor plus a fixed base of 5.802%
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