RICHMOND, Va. - Resource Mortgage Capital, a real estate investment trust, announced a fourth-quarter dividend on the common of 48 cents a share, an increase from 44 cents declared for the third quarter.
Thomas H. Potts, president, said the dividend boost, the third successive quarterly rise, reflected a continued "positive trend" in earnings.
The realty trust also declared a dividend of 56 cents a share on the Series A preferred and 42 cents on the Series B preferred.
The company securitized $240 million of loans in collateralized mortgage obligations it issued in the fourth quarter and has a $2.1 billion portfolio of adjustable-rate mortgage securities.
In the third quarter, Resource had a wholesale funding volume of $99 million. It expects fourth-quarter volume to exceed that level. However, total funding volume for the fourth quarter is expected to be slightly lower than the third quarter's $242 million. - Juliana Ratner