SOURCE: Resource Capital Corp.

March 11, 2008 09:25 ET

Resource Capital Corp. Declares Quarterly Cash Dividend

PHILADELPHIA, PA--(Marketwire - March 11, 2008) - Resource Capital Corp. (NYSE: RSO)("RCC") announced today that its Board of Directors has declared a cash dividend of $0.41 per common share for the quarter ending March 31, 2008. The dividend will be paid on April 28, 2008 to holders of record on March 31, 2008.

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. will release its fourth quarter and fiscal year ended December 31, 2007 results on March 13, 2008, after market hours, and invites investors and other interested parties to listen to the live webcast of its conference call on March 14, 2008, at 8:30 a.m. Eastern Daylight Time.

This call is being webcast live and can be accessed from Resource Capital Corp.'s website at http://www.resourcecapitalcorp.com. For those unavailable to listen to the live broadcast, the replay of the webcast will be available following the live call on RCC's website and telephonically beginning at 10:30 a.m. E.D.T. on March 14, 2008 until midnight on April 14, 2008 by dialing 888-286-8010, passcode 19103497.

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.

RCC is externally managed by Resource Capital Manager, Inc., an indirect wholly-owned subsidiary of Resource America, Inc. (NASDAQ: REXI), 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 commercial finance, real estate and financial fund management sectors.

For more information, please visit the Resource Capital Corp. website at ww.resourcecapitalcorp.com or contact investor relations at pkamdar@resourceamerica.com.

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 Information

  • 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)