This past month, Resource Capital Corp. announced that it will provide a quarterly cash dividend to its shareholders for Q3 of 2017. The company is managed externally by Resource Capital Manager Inc., a subsidiary of C-III Capital Partners, where Andrew Farkas serves as Chairman and CEO.
The board of directors made the announcement on September 19th, declaring that the stock would yield a $0.05 cash dividend per common share. The dividend will be paid on October 27, 2017 to all shareholders with record of the stock as of September 29, 2017. This marks the fourth consecutive quarter during which Resource Capital Corp paid shareholders this dividend.
Resource Capital Corp., which has offices based out of both New York and Philadelphia, is a real estate investment trust. It focuses primarily on providing and managing commercial mortgage loans, as well as other debt investments related to the real estate industry. It has been a publicly traded company since February of 2006, and was acquired by the Andrew Farkas subsidiary in late 2016.
Resource Capital is one of many real estate subsidiaries under the umbrella of Island Capital Group, of which Andrew Farkas serves as Chairman and CEO. There he has successfully guided deals in the commercial real estate industry, where he has over thirty years of corporate experience. Throughout his career, he has been instrumental in the development of many successful firms, all the while maintaining active philanthropic roles in other organizations.Read More