Ready Capital Q2 GAAP loss $(0.21)/share; distributable EPS $0.07; dividend $0.30

Ready Capital Corp

2024-Q2 EPS reported -$0.68

GAAP loss from continuing ops $(0.21) per share; distributable EPS $0.07; distributable EPS before realized losses $0.19.
Sold $4.7B residential mortgage servicing rights for net $61.8M; exiting residential mortgage banking segment.
Completed sale process of $462M under-performing loans; settlement expected in Q3 2024.
Acquired Madison One (USDA/SBA lender); post-quarter acquired Funding Circle USA (small business lending).
Repurchased ~2.3M shares at avg $8.61; net book value $12.97; dividend $0.30 declared and paid.

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