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Redwood Trust, Inc. Announces Second Quarter 1999 Preferred Dividends.

MILL VALLEY, Calif.--(BUSINESS WIRE)--June 1, 1999--

In accordance with the terms of Redwood Trust, Inc.'s (NYSE:RWT) Class B Preferred Stock, the Board of Directors declared a second quarter 1999 preferred stock dividend of $0.755 per share.

This dividend is payable on July 21, 1999 to preferred shareholders of record as of June 30, 1999.

The Common Stock dividend declaration and announcement dates for the second and third quarters of 1999 are expected to coincide with the date the Company releases its operating results for the respective quarter. The second quarter 1999 Common Stock dividend declaration and announcement date is expected to be on or before July 22, 1999. The record and payable dates will be announced at the time the dividend is declared.

Redwood Trust, Inc., together with its affiliates, is a mortgage finance company providing funding to diverse segments of the U.S. mortgage market. The Company originates, acquires, processes, aggregates, and credit-enhances high-quality residential and commercial mortgage loans for sale to institutional investors as tailored loan portfolios, mortgage securities, and mortgage-backed bonds. In addition, the Company invests in mortgage assets on a long-term basis for its own account.

Currently the Company has outstanding 10,041,817 shares of common stock (New York Stock Exchange, Symbol "RWT") and 909,518 shares of Class B Cumulative Convertible Preferred Stock (Symbol "RWT-PB"). For more information about the Company, please visit the Company's Web site on the Internet at http://www.redwoodtrust.com.
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Publication:Business Wire
Geographic Code:1USA
Date:Jun 1, 1999
Words:246
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