PennyMac Mortgage Investment Trust Declares Third Quarter 2018 Dividends for Its Preferred Shares
August 21 2018 - 08:30AM
Business Wire
PennyMac Mortgage Investment Trust (NYSE: PMT) announced today
that its Board of Trustees has declared cash dividends for the
third quarter of 2018 on its 8.125% Series A Fixed-to-Floating Rate
Cumulative Redeemable Preferred Shares of Beneficial Interest (the
“Series A Preferred Shares”) (NYSE: PMT PrA) and its 8.00% Series B
Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of
Beneficial Interest (the “Series B Preferred Shares”) (NYSE: PMT
PrB).
In accordance with the terms for each preferred series, the
dividend information is as follows:
Annual Series Ticker Dividend
Rate Dividend Per Share Record Date Payment Date A PMT PrA
8.125% $0.507813 September 1, 2018 September 17, 2018 B PMT PrB
8.000% $0.500000 September 1, 2018 September 17, 2018
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. PMT is externally
managed by PNMAC Capital Management, LLC, a controlled 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; events or circumstances which undermine confidence in
the financial markets or otherwise have a broad impact on financial
markets; 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; 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; incomplete or inaccurate information or
documentation provided by customers or counterparties, or adverse
changes in the financial condition of our customers and
counterparties; changes in the number of investor repurchases or
indemnifications and our ability to obtain indemnification or
demand repurchase from our correspondent sellers; increased rates
of delinquency, default and/or decreased recovery rates on our
investments; 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; our exposure to market risk and declines in credit
quality and credit spreads; 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; changes in regulations or the
occurrence of other events that impact the business, operation or
prospects of government sponsored enterprises; changes in
government support of homeownership; changes in governmental
regulations, accounting treatment, tax rates and similar matters;
our ability to mitigate cybersecurity risks and cyber incidents;
our exposure to risks of loss with real estate investments
resulting from adverse weather conditions and man-made or natural
disasters; our ability to satisfy complex rules in order to qualify
as a REIT for U.S. federal income tax purposes; our ability to make
distributions to our shareholders in the future; 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.
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PennyMac Mortgage Investment TrustMediaStephen Hagey(805)
530-5817orInvestorsChristopher Oltmann(818) 224-7028
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