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Rithm Capital Corp., 7.125% Ser B Fixed/Float Cumul Red Prfrd Stock
Ticker Symbol: RITM-B CUSIP: 64828T409 Exchange: NYSE
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Rithm Capital Corp. formerly, New Residential Investment Corp., 7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 8/15/2024 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 7.125% per annum ($1.78125 per annum or $0.4453125 per quarter) will be paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the record date that will be 2/1, 5/1, 8/1 & 11/1 (NOTE: the ex-dividend date is the record date). From and including 8/15/2024, dividends will be paid at a floating rate of the Three-Month LIBOR plus 5.640% per annum. Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders Upon the occurrence of a change of control the company will have the option within 120 days to redeem the preferred shares at $25 per share plus accrued and unpaid dividends. If the company has exercised their redemption right, the holders will NOT have the following conversion right. Upon the occurrence of a change of control, and the company has NOT provided notice that they intend to redeem the preferred shares, the holder will have the right to convert the preferred shares into common shares under certain circumstances (see the prospectus for details). In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (RITM)
IPO - 8/8/2019 - 10.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: NRZ-B Changed: 8/02/2022
Previous Name: New Residential Investment Corp., 7.125% Ser B Fixed/Float Cumul Red Prfrd Stock Changed: 8/02/2022
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 799 Broadway, New York, NY 10003 |
| Main Phone Number |
212-850-7770 |
| Fax Number |
Not Available |
| Investor Relations
Kenneth Bruce
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212-850-7770
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| CEO - Michael Nierenberg |
CFO - Nick Santoro |
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