NEW YORK, Jan. 26, 2006 (PRIMEZONE) -- NorthStar Realty Finance Corp. (NYSE:NRF) today announced that its Board of Directors has declared a cash dividend of $0.27 per share of common stock, payable with respect to the quarter ended December 31, 2005. The dividend amount represents an increase of 17% from the dividend of $0.23 per share paid in the prior quarter. The dividend is expected to be paid on February 10, 2006 to shareholders of record as of the close of business on February 3, 2006.
Based on the closing price of $10.33 per share on January 25, 2006, this distribution represents an annualized dividend yield of 10.45%.
About NorthStar Realty Finance Corp.
NorthStar Realty Finance Corp. is an internally managed REIT that makes investments in commercial real estate debt, real estate securities and net lease properties. For more information about NorthStar Realty Finance Corp, please visit http://www.nrfc.com.
Safe Harbor Statement
Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. NorthStar Realty can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from NorthStar Realty's expectations include, but are not limited, to changes in economic conditions generally and the real estate and bond markets specifically, legislative or regulatory changes (including changes to laws governing the taxation of REITs), availability of capital, interest rates and interest rate spreads, policies and rules applicable to REITs, the continued service of key management personnel, the effect of competition in the real estate finance industry, the costs associated with compliance and corporate governance, including the Sarbanes-Oxley Act and related regulations and requirements, and other risks detailed from time to time in NorthStar Realty's periodic reports filed with the Securities Exchange Commission. Such forward-looking statements speak only as of the date of this press release. NorthStar Realty expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.