Two Harbors Investment Corp. (NYSE: TWO), a number one mortgage actual property funding belief, in the present day declared a dividend of $0.14 per share of widespread inventory for the third quarter of 2020. This dividend is payable on October 29, 2020 to widespread stockholders of report on the shut of enterprise on October 1, 2020.
The widespread inventory dividend is a perform of a number of components together with sustainability, financial return of the portfolio, taxable revenue and REIT distribution necessities. We imagine that our portfolio is able to producing future gross returns within the low-to mid-double digits, as we additional deploy capital, enhance leverage and scale back bills. In consequence, we anticipate to be able to reasonably enhance our fourth quarter dividend to a stage that displays our financial return expectations, depending on market situations and precise outcomes. As all the time, future dividends stay topic to the discretion and approval of the Board of Administrators.
Widespread inventory dividends are distributed primarily based on the present estimate of taxable earnings per widespread share, not GAAP earnings. Taxable and GAAP earnings are anticipated to vary principally due to variations in low cost accretion and premium amortization, sure non-taxable unrealized and realized acquire and losses on derivatives, and non-deductible common and administrative bills.
Most popular Inventory Dividends
Two Harbors additionally declared in the present day the next most well-liked inventory dividends:
- a dividend of $0.50781 per share of the 8.125% Sequence A Cumulative Redeemable Most popular Inventory;
- a dividend of $0.47656 per share of the 7.625% Sequence B Cumulative Redeemable Most popular Inventory;
- a dividend of $0.45313 per share of the 7.25% Sequence C Cumulative Redeemable Most popular Inventory;
- a dividend of $0.484375 per share of the 7.75% Sequence D Cumulative Redeemable Most popular Inventory; and
- a dividend of $0.46875 per share of the 7.50% Sequence E Cumulative Redeemable Most popular Inventory.
The Sequence A, Sequence B and Sequence C most well-liked dividends are payable on October 27, 2020 to the relevant most well-liked stockholders of report on the shut of enterprise on October 12, 2020. The Sequence D and Sequence E most well-liked dividends are payable on October 15, 2020 to the relevant most well-liked stockholders of report on the shut of enterprise on October 1, 2020.
Ahead Trying Statements
This press launch contains “forward-looking statements” inside the which means of the secure harbor provisions of the USA Personal Securities Litigation Reform Act of 1995. Precise outcomes could differ from expectations, estimates and projections and, consequently, readers shouldn’t depend on these forward-looking statements as predictions of future occasions. Phrases comparable to “anticipate,” “goal,” “assume,” “estimate,” “undertaking,” “finances,” “forecast,” “anticipate,” “intend,” “plan,” “could,” “will,” “might,” “ought to,” “imagine,” “predicts,” “potential,” “proceed,” and comparable expressions are supposed to establish such forward-looking statements. These ahead trying statements contain vital dangers and uncertainties that might trigger precise outcomes to vary materially from anticipated outcomes.
Readers are cautioned to not place undue reliance upon any forward-looking statements, which converse solely as of the date made. Two Harbors doesn’t undertake or settle for any obligation to launch publicly any updates or revisions to any forward-looking assertion to replicate any change in its expectations or any change in occasions, situations or circumstances on which any such assertion is predicated. Extra data regarding these and different danger components is contained in Two Harbors’ most up-to-date filings with the Securities and Trade Fee. All subsequent written and oral ahead trying statements regarding Two Harbors or issues attributable to Two Harbors or any individual.
Two Harbors Funding Corp.
Two Harbors Funding Corp., a Maryland company, is an actual property funding belief that invests in residential mortgage-backed securities, mortgage servicing rights and different monetary property. Two Harbors is headquartered in Minnetonka, MN. Extra data is obtainable at www.twoharborsinvestment.com.
Stockholders of Two Harbors and different individuals could discover extra data relating to the corporate on the Securities and Trade Fee’s Web website at www.sec.gov or by directing requests to: Two Harbors Funding Corp., 601 Carlson Parkway, Suite 1400, Minnetonka, MN, 55305, phone 612-453-4100.
Buyers: Margaret Karr, Investor Relations, Two Harbors Funding Corp., 612-446-5431, [email protected]