secwatch.observer — SEC 8-K summary
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Issuer:     Ready Capital Corp (RC)
CIK:        0001527590
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0001558370-24-011390
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1527590/000155837024011390/0001558370-24-011390-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1527590/000155837024011390/rc-20240807x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-011390

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