Company: RITM-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001556593-25-000033
Chunk: 57

Company: Rithm Capital Corp.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 2
Chunk 57
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 million.

On September 24, 2024, Rithm Capital issued in a public offering 30.0 million shares of its common stock at a par value of $0.01 per share for gross proceeds of $340.2 million, before deducting estimated offering costs. 

Common Dividends

We generally need to distribute at least 90% of our taxable income each year (subject to certain adjustments) to our shareholders to qualify as a REIT under the Internal Revenue Code. This distribution requirement limits our ability to retain earnings and thereby replenish or increase capital to support our activities. Dividends declared for the nine months ended September 30, 2025 were $403.6 million.

We will continue to monitor market conditions and the potential impact the ongoing volatility and uncertainty may have on our business. Our board of 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