Dividend ReductionBRSP lowered the quarterly dividend by 20%, to $0.16 per share, due primarily to the drag on earnings related to the Norway investment.
Financial PerformanceGAAP earnings were negatively impacted by a $39.9M, or $0.31 per share, increase to CECL reserves, of which $11.8M was a specific reserve, and also by a $45.2M, or $0.35 per share, impairment charge related to certain legacy office assets.
Loan OriginationBRSP received $127M of repayments during the quarter while originating zero new loans.