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|Resource Capital Corp. Declares Quarterly Cash Dividend|
|PHILADELPHIA, PA, Mar 20, 2007 (MARKET WIRE via COMTEX News Network) -- 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 www.amstock.com.
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 or events.
Contact: David J. Bryant Chief Financial Officer Resource Capital Corp. 1845 Walnut Street, 10th Floor Philadelphia, PA 19103 (215) 546-5005 (215) 546-4785 (facsimile)
SOURCE: Resource Capital Corp.
New York, NY 10019
1845 Walnut Street
Philadelphia, PA 19103