Rithm Capital Sets Third-Quarter Dividend at $0.25 per Common Share
Key Facts
Rithm Capital announced a third-quarter cash dividend of $0.25 per common share, payable October 30 to shareholders of record on October 1, according to a company statement. The announcement comes amid company updates around the end of the third quarter of 2026. The company had previously scheduled the release of results for the period ended September 30 before the New York Stock Exchange opens on October 23. It also said management will hold a call that day at 8:00 a.m. Eastern time. These dates place the dividend in the week of the earnings announcement, with the shareholder record date separate from the payment date.
Second-quarter results provide a financial backdrop for comparison ahead of the third-quarter report. The company posted GAAP net income of $20.2 million, or $0.04 per diluted share, in the second quarter of 2026. In the same period, distributable earnings totaled $338.9 million, or $0.60 per diluted share, according to Rithm's statement. The measure differs from accounting net income, and the company reported the two figures separately. A report attributed to Reuters also cited analysts' expectations for earnings of $0.49 per share and revenue of $1.47 billion for the third quarter, compared with earnings of $0.60 per share in the second quarter. Those figures remain estimates made ahead of the announcement, not actual third-quarter results.
In asset management, Rithm had about $61 billion in assets under management on June 30, 2026, up from $59 billion at the end of the first quarter. The company attributed the increase to $1.9 billion in gross inflows and new fund commitments in the second quarter. Asset management revenue was $141 million that quarter, up 34% from the first quarter, and the company said the increase was linked to higher incentive fee income. The figures reflect quarterly expansion in the management business ahead of the period that ended in September. Chief Executive Michael Nierenberg said the asset management business reached $61 billion in assets under management, with $1.9 billion in inflows and new commitments. He added that Genesis had its strongest quarter for loan originations and that Newrez recorded an annualized operating return on equity of 22%.
The company's activity also extended to mortgage services and real estate finance through Genesis. Unpaid principal balance in the loan servicing portfolio stood at $865.2 billion at the end of the second quarter, including $268.4 billion of third-party servicing. Genesis recorded loan originations of $1.9 billion in the second quarter, up 52% year over year. On October 14, the company closed a $375 million securitization initially backed by a portfolio of 55 multifamily loans. Rithm said the transaction was Genesis' first multifamily securitization and the largest of its kind to date. Multifamily loan originations rose from about $160 million in the first quarter of 2024 to $637 million in the second quarter of 2026, while those loans accounted for about 40% of the platform's outstanding commitments in October.
Ahead of the earnings release, an Investing.com report attributed to Reuters said investors were watching whether earnings could support the dividend policy, the direction of profitability and margin management. The report said mortgage rates exceeded 7% in October and also covered the $375 million securitization the company closed in midmonth. In the market, Rithm shares closed at $8.68 on October 22, according to EL7 data. The company scheduled the release of third-quarter results before the New York Stock Exchange opens on October 23, with a management call at 8:00 a.m. Eastern time. The announced dividend is payable October 30 to shareholders of record on October 1.