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Contact: Michael L. Staines
Sr. Vice President
Resource America, Inc.
1521 Locust Street - 4th Floor
Philadelphia, PA 19102
(215) 546-5005, (215) 546-5388 (facsimile)
RESOURCE AMERICA, INC. ANNOUNCES CASH DIVIDEND
Philadelphia, PA, 10/31/1997 - Resource America, Inc. (NASDAQ:REXI) (the "Company") announces that its Board of Directors has authorized the payment on November 28, 2021 of a quarterly cash dividend in the amount of $. 10 per share of the Company's common stock to all holders of record at the close of business on November 14, 1997. The Company currently has
approximately 4,702,000 shares of common stock outstanding.
Resource America, Inc. is a specialty finance company principally engaged in the acquisition and resolution of real estate mortgages and in equipment lease
finance. Since 1991, the Company's business strategy has focused on locating and developing niche finance businesses in which the Company can realize attractive returns by targeting well-defined financial service markets and by
developing specialized skills to service those markets on a cost-effective basis. The Company's asset acquisition and resolution business involves the purchase at discount of commercial real estate loans from a variety of financial institutions and the restructuring and refinancing of those loans. The Company's equipment leasing activities are focused on manufacturer and vendor programs - leasing "small ticket" items of $5,000 to $ 100,000 in value, and on the management of public partnerships holding equipment for lease. In addition, the Company owns, manages and operates energy assets in the Appalachian Basin.
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