Company: NXDT
Filing Date: 2025-01-30
Form Type: 424B5
Source: 0001437749-25-002263
Chunk: 9

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-30
Form: 424B5
Chunk 9
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 will be authorized and declared on a quarterly basis, payable monthly on the 5th day of each month (or if such payment date is not a business day, on the immediately succeeding business day, with the same force and effect as if made on such date) to holders of record on the 25th day of the prior month (or if such record date is not a business day, on the immediately preceding business day, with the same force and effect as if made on such date), unless our results of operations, our general financing conditions, general economic conditions, applicable provisions of Delaware law or other factors make it imprudent to do so or we are contractually unable to or our governing documents prevent us from doing so. |

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|                      |     | If a Series B Preferred Share is issued prior to the record date for the Series B Cash Dividend Period (as defined below) in which such share is issued, the Series B Cash Dividends payable on such share will begin accruing on, and be cumulative from and including, the first day of the Series B Cash Dividend Period in which such share is issued. If a Series B Preferred Share is issued after the record date for the Series B Cash Dividend Period in which such share is issued, the Series B Cash Dividends payable on such share will begin accruing on, and be cumulative from and including, the first day of the first Series B Cash Dividend Period commencing after its issuance. A “Series B Cash Dividend Period” will be the respective period commencing on and including the first day of each month and ending on and including the day preceding the first day of the next succeeding Series B Cash Dividend Period. 
 The timing and amount of any dividends on the Series B Preferred Shares will be determined by our Board, in its sole discretion, and may vary from time to time. All such dividends will accrue and be paid on the basis of a 360-day year consisting of twelve 30-day months. Dividends on the Series B Preferred Shares will accrue whether or not (i) we have earnings, (ii) there are funds legally available for the payment of such dividends and (iii) such dividends are authorized by our Board or declared by us. Accrued dividends on the Series B Preferred Shares will not bear interest.                                                                                                                                                                                                                                                                                                                                          
 See “Description of Series B Preferred Shares—Dividends” in this prospectus supplement for additional information.