Redwood Trust, Inc.

RWT

Real Estate · REIT - Mortgage · Stock · quarterly payer

$3.23

Undervalued · +202% Add to Portfolio

Forward Yield

22.29%

Annual Dividend

$0.72

Payout Ratio

329%

5-Yr Growth

5.9%

Ex-Date

Sep 23, 2026

Frequency

Quarterly

Key facts about RWT's dividend

Data as of Oct 27, 2026 · Source: SmarterDividends data

As of Oct 27, 2026, Redwood Trust, Inc. (RWT) has a forward dividend yield of 22.29%, based on an annual dividend of $0.72 per share and a share price of $3.23.
As of Oct 27, 2026, RWT's dividend safety grade from SmarterDividends is D (42 out of 100), which rates the dividend as unsafe.
RWT last cut its regular dividend in 2023.
RWT's most recent ex-dividend date was Sep 23, 2026, for a dividend of $0.18 per share.
As of Oct 27, 2026, RWT pays out 329% of its trailing 12-month earnings as dividends (its payout ratio).
RWT's dividend has grown at an average rate of 5.9% a year over the past five years.
As of Oct 27, 2026, RWT's 22.29% yield is 126% above its five-year average yield of 9.88%.
As of Oct 27, 2026, SmarterDividends' blended fair-value estimate for RWT is $9.76 per share, 202% above the $3.23 share price, so RWT screens as undervalued.
Redwood Trust, Inc. (RWT) pays its dividend quarterly, 4 times a year.
Redwood Trust, Inc. (RWT) has raised its regular dividend 29 times and cut it 8 times across the 126 payments on record since 1996. Its most recent change was a 5.9% increase to $0.180 per share, going ex-dividend on Dec 23, 2024. The last cut went ex-dividend on Jun 22, 2023.

Cite this page

SmarterDividends, "RWT Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 27, 2026, https://smarterdividends.com/stocks/RWT

Summary

As of Oct 27, 2026, Redwood Trust, Inc. (RWT) yields 22.29% ($0.72 a year per share) and has a dividend safety grade of D (42/100).

Is RWT a good dividend stock?

Mixed

Redwood Trust, Inc. (RWT) pays a quarterly dividend yielding 22.29% ($0.72/yr), with 1 year of growth and a dividend-safety grade of D. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.

Advantages

Strong 5.9% 5-yr dividend growth

Risks

Cut its dividend in 2023
Elevated payout ratio (329%)
Very high yield can signal elevated risk
Share price is down over the past 5 years
Below-average dividend safety score

Key Data

Dividend Yield: 22.29%
Payout Ratio: 329%
Annual Dividend: $0.72
5-Yr Avg Growth: 5.9%
Ex-Dividend Date: Sep 23, 2026
Years of Growth: 1
Frequency: quarterly
Beta: 1.51
Market Cap: $405.7M
P/E Ratio: —
5-Yr Total Return: -75%
52-Week Range: $2.88 – $6.97
Dividend Safety: D · 42/100
Ever Cut?: Yes (2023)

RWT dividend raises and cuts

Redwood Trust, Inc. (RWT) has raised its regular dividend 29 times and cut it 8 times across the 126 payments on record since 1996. Its most recent change was a 5.9% increase to $0.180 per share, going ex-dividend on Dec 23, 2024. The last cut went ex-dividend on Jun 22, 2023.

Ex-date	Change	Old → new	Move
Dec 23, 2024	Raise	$0.170 → $0.180	+5.9%
Sep 23, 2024	Raise	$0.160 → $0.170	+6.3%
Jun 22, 2023	Cut	$0.230 → $0.160	−30.4%
Dec 16, 2021	Raise	$0.210 → $0.230	+9.5%
Sep 22, 2021	Raise	$0.180 → $0.210	+16.7%
Jun 22, 2021	Raise	$0.160 → $0.180	+12.5%
Mar 23, 2021	Raise	$0.140 → $0.160	+14.3%
Sep 21, 2020	Raise	$0.125 → $0.140	+12.0%
Jun 19, 2020	Cut	$0.320 → $0.125	−60.9%
Mar 13, 2020	Raise	$0.300 → $0.320	+6.7%
Jun 14, 2018	Raise	$0.280 → $0.300	+7.1%
Mar 13, 2013	Raise	$0.250 → $0.280	+12.0%

Show all 37 changes since 1996

Ex-date	Change	Old → new	Move
Mar 27, 2009	Cut	$0.750 → $0.250	−66.7%
Mar 28, 2007	Raise	$0.700 → $0.750	+7.1%
Mar 29, 2005	Raise	$0.670 → $0.700	+4.5%
Jun 28, 2004	Raise	$0.650 → $0.670	+3.1%
Mar 27, 2003	Cut	$0.755 → $0.650	−13.9%
Jun 26, 2002	Raise	$0.620 → $0.755	+21.8%
Mar 26, 2002	Raise	$0.600 → $0.620	+3.3%
Dec 27, 2001	Raise	$0.570 → $0.600	+5.3%
Sep 26, 2001	Raise	$0.550 → $0.570	+3.6%
Jun 27, 2001	Raise	$0.500 → $0.550	+10.0%
Mar 28, 2001	Raise	$0.440 → $0.500	+13.6%
Dec 27, 2000	Raise	$0.420 → $0.440	+4.8%
Sep 27, 2000	Raise	$0.400 → $0.420	+5.0%
Jun 28, 2000	Raise	$0.350 → $0.400	+14.3%
Mar 29, 2000	Raise	$0.250 → $0.350	+40.0%
Dec 29, 1999	Raise	$0.150 → $0.250	+66.7%
Nov 4, 1999	Raise	$0.0100 → $0.150	+1400.0%
Aug 4, 1998	Cut	$0.455 → $0.0100	−97.8%
May 5, 1998	Cut	$0.538 → $0.455	−15.4%
Dec 29, 1997	Cut	$0.552 → $0.538	−2.5%
Sep 26, 1997	Raise	$0.452 → $0.552	+22.1%
Mar 26, 1997	Raise	$0.368 → $0.452	+22.8%
Dec 27, 1996	Cut	$0.380 → $0.368	−3.2%
Sep 26, 1996	Raise	$0.330 → $0.380	+15.2%
Jun 26, 1996	Raise	$0.115 → $0.330	+187.0%

Every RWT payment →Download every raise and cut (CSV)

RWT ex-dividend date & scheduleNext ex-date Sep 23, 2026 · full ex-dividend historyView →RWT dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is RWT a good dividend stock?

Mixed. Redwood Trust, Inc. (RWT) pays a quarterly dividend yielding 22.29% ($0.72/yr), with 1 year of growth and a dividend-safety grade of D. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.

Is RWT undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, RWT's fair value is about $9.76 versus a $3.23 share price — so it looks undervalued (+202% vs. fair value).

Is RWT's dividend safe?

RWT has a dividend-safety grade of D (42/100), based on its payout coverage, free-cash-flow, 1-year growth streak, a dividend cut in 2023, debt and yield-versus-history.

What is RWT's fair value?

Our blended fair-value estimate for RWT is about $9.76 per share, roughly 202% above the current $3.23 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is RWT a buy, hold, or sell?

We don't issue formal ratings, but on the data RWT screens as "mixed" and undervalued. Redwood Trust, Inc. (RWT) pays a quarterly dividend yielding 22.29% ($0.72/yr), with 1 year of growth and a dividend-safety grade of D. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal. This is research for your own analysis, not investment advice.

Will RWT cut its dividend?

RWT earns a dividend-safety grade of D (42/100), and has cut its dividend before (last in 2023). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does RWT pay a dividend?

Yes. Redwood Trust, Inc. pays a quarterly dividend of about $0.72 per share annually, a forward yield of roughly 22.29%.

What is RWT's dividend yield?

As of Oct 27, 2026, RWT's forward dividend yield is 22.29%, based on a $0.72 annual dividend and a $3.23 share price.

What is RWT's dividend per share?

As of Oct 27, 2026, RWT pays $0.72 per share per year, distributed on a quarterly basis.

What is RWT's dividend payout ratio?

As of Oct 27, 2026, RWT's payout ratio is 329% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

How many years has RWT grown its dividend?

As of Oct 27, 2026, RWT has increased its dividend for 1 consecutive years.

When is the next RWT ex-dividend date?

As of Oct 27, 2026, RWT's next ex-dividend date hasn't been announced. The most recent was Sep 23, 2026, for $0.18 per share.

Dividend Growth

Total dividends per share by year

Dividend History

Full RWT dividend history →

Ex-Date	Pay Date	Amount	Type
Sep 23, 2026	Sep 30, 2026	$0.1800	regular
Jun 23, 2026	Jun 30, 2026	$0.1800	regular
Mar 24, 2026	Mar 31, 2026	$0.1800	regular
Dec 23, 2025	Dec 30, 2025	$0.1800	regular
Sep 23, 2025	Sep 30, 2025	$0.1800	regular
Jun 23, 2025	Jun 30, 2025	$0.1800	regular
Mar 24, 2025	Mar 31, 2025	$0.1800	regular
Dec 23, 2024	Dec 30, 2024	$0.1800	regular
Sep 23, 2024	Sep 30, 2024	$0.1700	regular
Jun 21, 2024	Jun 28, 2024	$0.1600	regular
Mar 20, 2024	Mar 28, 2024	$0.1600	regular
Dec 19, 2023	Dec 28, 2023	$0.1600	regular
Sep 21, 2023	Sep 29, 2023	$0.1600	regular
Jun 22, 2023	Jun 30, 2023	$0.1600	regular