SOURCE: Resource America, Inc.

May 03, 2007 15:38 ET

Resource America, Inc. Authorizes Payment of Cash Dividend

PHILADELPHIA, PA -- (MARKET WIRE) -- May 3, 2007 -- Resource America, Inc. (NASDAQ: REXI) (the "Company") announces that its Board of Directors has authorized the payment of a cash dividend on May 31, 2007 in the amount of $0.07 per share of the Company's common stock to all holders of record at the close of business on May 17, 2007. Last quarter, the Company authorized an increase in its cash dividend to $0.07 per share from its former quarterly cash dividend of $0.06 per share, which represented an increase of 17%.

The Company has issued a cash dividend for forty-eight consecutive quarters. Currently the Company has approximately 17.6 million shares of common stock outstanding.

Resource America is a specialized asset management company that uses industry specific expertise to generate and administer investment opportunities for its own account and for outside investors in the financial fund management, real estate and commercial finance sectors. For more information please visit our website at www.resourceamerica.com or contact Investor Relations at pschreiber@resourceamerica.com.

Certain matters discussed within this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Resource America, Inc. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, regulatory changes, changes in local or national economic conditions and other risks detailed from time to time in the Company's reports filed with the SEC, including quarterly reports on Form 10Q, reports on Form 8-K and annual reports on Form 10-K.

Contact Information

  • Contact:
    Pamela Schreiber
    Investor Relations
    Resource America, Inc.
    1845 Walnut Street, 10th Floor
    Philadelphia, PA 19103
    (215) 546-5005