Stock Alert: Redwood Climbs 9%

(RTTNews) - Shares of real estate investment company Redwood Trust, Inc. (RWT) are trading more than 9% higher Friday morning at $6.76. It has traded in the range of $2.14- $18.01 in the last 52 weeks.

Thursday, the company announced second-quarter dividend of $0.125 per share payable on June 29, to stockholders of record on June 22.

"Today's dividend declaration reflects the strength of our liquidity position, and the durable cash flow and net interest income expectations for our in-place portfolio," said Christopher J. Abate, Chief Executive Officer of Redwood Trust.