Ready Capital Q4 GAAP loss per share $(1.80); cuts dividend to $0.125

Ready Capital Corp

GAAP loss from continuing ops of $(1.80) per share; distributable loss of $(0.03) per share.
Distributable earnings before realized losses $0.23 per share; ROE 7.1%.
Quarterly dividend cut to $0.125 per common share (payable April 30, 2025).
Subsequent events: new $150M stock repurchase program (Jan 16) and $220M private placement of 9.375% senior secured notes due 2028 (Feb 21).
Total LMM and SBL originations $2.4B in FY2024 including $1.1B SBA 7(a) loans.

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