Resource America, Inc.
1521 Locust Street - 4th Floor
Philadelphia, PA 19102
(215) 546-5388 (facsimile)
RESOURCE AMERICA, INC. AUTHORIZES PAYMENT OF CASH DIVIDENDS
Philadelphia, PA, 10/30/1998 - Resource America, Inc. (NASDAQ:REXI) (the "Company") announces that its Board of Directors has authorized the payment on November 30, 2021 of a quarterly cash dividend in the amount of three and one-third cents per share of the Company's common stock to all holders of record at the close of business on November 16, 1998. The Company has approximately 22.4 million shares of common stock outstanding.
Resource America, Inc. is a specialty finance company principally engaged in real estate finance and equipment leasing. In addition, the Company owns, manages and operates energy assets in the Appalachian Basin and has sponsored Resource Asset Investment Trust, a publicly held real estate investment trust.
This announcement contains certain forward-looking statements that are subject to risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from those currently anticipated as a result of a number of factors, including, but not limited to, the risks and uncertainties discussed under Item I "Other Factors to be Considered" and "Management's Discussion and Analysis of Financial Conditions and Results of Operations" in the Company's Annual Report on Form 10-KSB for the fiscal year ended June 30, 1998, as filed with the Securities and Exchange Commission.