PennyMac Mortgage Investment Trust Announces Preferred Share Dividend
May 22 2017 - 5:28PM
Business Wire
PennyMac Mortgage Investment Trust (NYSE: PMT) announced today
that its Board of Trustees, in accordance with the terms of PMT’s
8.125 Percent Series A Fixed-to-Floating Rate Cumulative Redeemable
Preferred Shares (“Series A Preferred Shares”), declared a Series A
Preferred Share dividend of $0.54167 per share for the second
quarter of 2017. The dividend will be paid on June 15, 2017 to
holders of record as of June 1, 2017. This dividend reflects
the period from March 9, 2017, the original issuance date, to, but
not including, June 15, 2017.
About PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust is a mortgage real estate
investment trust (REIT) that invests primarily in residential
mortgage loans and mortgage-related assets. PennyMac Mortgage
Investment Trust trades on the New York Stock Exchange under the
symbol “PMT” and is externally managed by PNMAC Capital Management,
LLC, an indirect subsidiary of PennyMac Financial Services, Inc.
(NYSE: PFSI). Additional information about PennyMac Mortgage
Investment Trust is available at www.PennyMac-REIT.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of
1934, as amended, regarding management’s beliefs, estimates,
projections and assumptions with respect to, among other things,
the Company’s financial results, future operations, business plans
and investment strategies, as well as industry and market
conditions, all of which are subject to change. Words like
“believe,” “expect,” “anticipate,” “promise,” “plan,” and other
expressions or words of similar meanings, as well as future or
conditional verbs such as “will,” “would,” “should,” “could,” or
“may” are generally intended to identify forward-looking
statements. Actual results and operations for any future period may
vary materially from those projected herein and from past results
discussed herein. Factors which could cause actual results to
differ materially from historical results or those anticipated
include, but are not limited to: changes in our investment
objectives or investment or operational strategies, including any
new lines of business or new products and services that may subject
us to additional risks; volatility in our industry, the debt or
equity markets, the general economy or the real estate finance and
real estate markets specifically, whether the result of market
events or otherwise; events or circumstances which undermine
confidence in the financial markets or otherwise have a broad
impact on financial markets, such as the sudden instability or
collapse of large depository institutions or other significant
corporations, terrorist attacks, natural or man-made disasters, or
threatened or actual armed conflicts; changes in general business,
economic, market, employment and political conditions, or in
consumer confidence and spending habits from those expected;
declines in real estate or significant changes in U.S. housing
prices or activity in the U.S. housing market; the availability of,
and level of competition for, attractive risk-adjusted investment
opportunities in mortgage loans and mortgage-related assets that
satisfy our investment objectives; the inherent difficulty in
winning bids to acquire mortgage loans, and our success in doing
so; the concentration of credit risks to which we are exposed; the
degree and nature of our competition; our dependence on our manager
and servicer, potential conflicts of interest with such entities
and their affiliates, and the performance of such entities; changes
in personnel and lack of availability of qualified personnel at our
manager, servicer or their affiliates; the availability, terms and
deployment of short-term and long-term capital; the adequacy of our
cash reserves and working capital; our ability to maintain the
desired relationship between our financing and the interest rates
and maturities of our assets; the timing and amount of cash flows,
if any, from our investments; unanticipated increases or volatility
in financing and other costs, including a rise in interest rates;
the performance, financial condition and liquidity of borrowers;
the ability of our servicer, which also provides us with
fulfillment services, to approve and monitor correspondent sellers
and underwrite loans to investor standards; incomplete or
inaccurate information or documentation provided by customers or
counterparties, or adverse changes in the financial condition of
our customers and counterparties; our indemnification and
repurchase obligations in connection with mortgage loans we
purchase and later sell or securitize; the quality and
enforceability of the collateral documentation evidencing our
ownership and rights in the assets in which we invest; increased
rates of delinquency, default and/or decreased recovery rates on
our investments; the performance of mortgage loans underlying
mortgage-backed securities in which we retain credit risk; our
ability to foreclose on our investments in a timely manner or at
all; increased prepayments of the mortgages and other loans
underlying our mortgage-backed securities or relating to our
mortgage servicing rights, excess servicing spread and other
investments; the degree to which our hedging strategies may or may
not protect us from interest rate volatility; the effect of the
accuracy of or changes in the estimates we make about
uncertainties, contingencies and asset and liability valuations
when measuring and reporting upon our financial condition and
results of operations; our failure to maintain appropriate internal
controls over financial reporting; technologies for loans and our
ability to mitigate security risks and cyber intrusions; our
ability to obtain and/or maintain licenses and other approvals in
those jurisdictions where required to conduct our business; our
ability to detect misconduct and fraud; our ability to comply with
various federal, state and local laws and regulations that govern
our business; developments in the secondary markets for our
mortgage loan products; legislative and regulatory changes that
impact the mortgage loan industry or housing market; changes in
regulations or the occurrence of other events that impact the
business, operations or prospects of government agencies or
government-sponsored entities, or such changes that increase the
cost of doing business with such entities; the Dodd-Frank Wall
Street Reform and Consumer Protection Act and its implementing
regulations and regulatory agencies, and any other legislative and
regulatory changes that impact the business, operations or
governance of mortgage lenders and/or publicly-traded companies;
the Consumer Financial Protection Bureau and its issued and future
rules and the enforcement thereof; changes in government support of
homeownership; changes in government or government-sponsored home
affordability programs; limitations imposed on our business and our
ability to satisfy complex rules for us to qualify as a real estate
investment trust (REIT) for U.S. federal income tax purposes and
qualify for an exclusion from the Investment Company Act of 1940
and the ability of certain of our subsidiaries to qualify as REITs
or as taxable REIT subsidiaries for U.S. federal income tax
purposes, as applicable, and our ability and the ability of our
subsidiaries to operate effectively within the limitations imposed
by these rules; changes in governmental regulations, accounting
treatment, tax rates and similar matters (including changes to laws
governing the taxation of REITs, or the exclusions from
registration as an investment company); our ability to make
distributions to our shareholders in the future; the effect of
public opinion on our reputation; the occurrence of natural
disasters or other events or circumstances that could impact our
operations; and our organizational structure and certain
requirements in our charter documents. You should not place undue
reliance on any forward-looking statement and should consider all
of the uncertainties and risks described above, as well as those
more fully discussed in reports and other documents filed by the
Company with the Securities and Exchange Commission from time to
time. The Company undertakes no obligation to publicly update or
revise any forward-looking statements or any other information
contained herein, and the statements made in this press release are
current as of the date of this release only.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170522006373/en/
PennyMac Mortgage Investment TrustMediaStephen Hagey(805)
530-5817orInvestorsChristopher Oltmann(818) 224-7028
PennyMac Mortgage Invest... (NYSE:PMT)
Historical Stock Chart
From Aug 2024 to Sep 2024
PennyMac Mortgage Invest... (NYSE:PMT)
Historical Stock Chart
From Sep 2023 to Sep 2024