Company: RITM-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001556593-25-000033
Chunk: 434

Company: Rithm Capital Corp.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 434
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 directors will continue to evaluate the payment of dividends as market conditions evolve, and no definitive determination has been made at this time. While the terms and timing of the approval and declaration of cash dividends, if any, on shares of our capital stock is at the sole discretion of our board of directors and we cannot predict how market conditions may evolve, we intend to distribute to our stockholders an amount equal to at least 90% of our REIT taxable income determined before applying the deduction for dividends paid and by excluding net capital gains consistent with our intention to maintain our qualification as a REIT under the Internal Revenue Code.

Cash Flows

The following table summarizes changes to our cash and cash equivalents and restricted cash for the periods presented:

Nine Months Ended September 30,20252024ChangeBeginning of period — cash and cash equivalents and restricted cash$1,917,809 $1,697,095 $220,714 Net cash used in operating activities(1,177,470)(431,843)(745,627)Net cash provided by (used in) investing activities1,222,360 (2,087,529)3,309,889 Net cash provided by financing activities283,075 2,825,689 (2,542,614)Net increase in cash and cash equivalents and restricted cash327,965 306,317 21,648 End of Period — Cash and Cash Equivalents and Restricted Cash$2,245,774 $2,003,412 $242,362 

Operating Activities

Net cash used in operating activities was approximately $1.2 billion and $0.4 billion for the nine months ended September 30, 2025 and 2024, respectively. The increase of $0.7 billion in net cash used in operating activities was primarily driven by an increase in sales proceeds and loan repayment proceeds for residential mortgage loans, HFS of approximately, partially offset by an increase in mortgage loans originated and purchased for sale, net of fees.    

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Investing Activities

Net cash provided by (used in) investing activities was approximately $1.2 billion and $(2.1) billion for the nine months ended September 30, 2025 and 2024, respectively. The increase of $3.3 billion in net cash provided by investing activities was primarily driven by $1.2 billion net proceeds from purchase and sales of Treasury and government-backed securities in 2025 compared to net $3.8 billion paid for