Resource Capital Corp. Declares Quarterly Cash Dividend
PHILADELPHIA, PA -- (MARKET WIRE) -- March 20, 2007 -- Resource Capital Corp. (NYSE: RSO) ("RCC")
announced today that its Board of Directors has declared a cash dividend of
$0.39 per common share for the quarter ended March 31, 2007. The dividend
will be paid on April 16, 2007 to holders of record on March 30, 2007.
"We're pleased to announce a 2.6% increase in our regular dividend in light
of the issuance of an additional 6.65 million common shares for net
proceeds of $103.0 million, an increase in our share base of 37%, in
connection with our December 2006 follow-on offering," reports Jonathan
Cohen, CEO and President.
RCC has a Dividend Reinvestment and Share Purchase Plan available to both
existing shareholders and interested new investors. Plan information may
be obtained from the Plan Administrator, American Stock Transfer & Trust
Company, at 1-800-278-4353, or by visiting their website at
Resource Capital Corp. is a commercial real estate specialty finance
company that qualifies as a real estate investment trust, or REIT, for
federal income tax purposes. RCC's investment strategy focuses on
commercial real estate-related assets and, to a lesser extent,
higher-yielding commercial finance assets. RCC invests in the following
asset classes: commercial real estate-related assets such as whole loans,
A-notes, B-notes, mezzanine loans and mortgage-related securities and
commercial finance assets such as other asset-backed securities, senior
secured corporate loans, equipment leases and notes, trust preferred
securities, debt tranches of collateralized debt obligations and private
equity investments principally issued by financial institutions.
This press release includes statements that may constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements are subject to a variety of
known and unknown risks, uncertainties, and other factors that are
difficult to predict and many of which are beyond management's control.
Factors that can affect future results are discussed in the documents filed
by Resource Capital Corp. from time to time with the Securities and
Exchange Commission. Resource Capital Corp. undertakes no obligation to
update or revise any forward-looking statement to reflect new information
Contact Information: Contact:
David J. Bryant
Chief Financial Officer
Resource Capital Corp.
1845 Walnut Street, 10th Floor
Philadelphia, PA 19103
(215) 546-4785 (facsimile)