New York Mortgage Trust Declares Third Quarter 2020 Common Stock Dividend of $0.075 Per Share, and Preferred Stock Dividends
September 14 2020 - 4:05PM
New York Mortgage Trust, Inc. (Nasdaq: NYMT) (the “Company”)
announced today that its Board of Directors (the “Board”) declared
a regular quarterly cash dividend of $0.075 per share on shares of
its common stock for the quarter ending September 30, 2020. The
dividend will be payable on October 26, 2020 to common stockholders
of record as of the close of business on September 24, 2020.
In addition, the Board declared cash dividends
for the quarterly period that began on July 15, 2020 and ends on
October 14, 2020 on the Company’s 7.75% Series B Cumulative
Redeemable Preferred Stock (“Series B Preferred Stock”), 7.875%
Series C Cumulative Redeemable Preferred Stock (“Series C Preferred
Stock”), 8.00% Series D Fixed-to-Floating Rate Cumulative
Redeemable Preferred Stock (“Series D Preferred Stock”) and 7.875%
Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred
Stock (“Series E Preferred Stock”) as stated below.
Class of Preferred Stock |
|
Series B |
|
Series C |
|
Series D |
|
Series E |
Record
Date |
|
October 1, 2020 |
|
October 1, 2020 |
|
October 1, 2020 |
|
October 1, 2020 |
Payment
Date |
|
October 15,
2020 |
|
October 15,
2020 |
|
October 15,
2020 |
|
October 15,
2020 |
Cash
Dividend Per Share |
|
$0.484375 |
|
$0.4921875 |
|
$0.50 |
|
$0.4921875 |
About New York Mortgage Trust
New York Mortgage Trust, Inc. is a Maryland
corporation that has elected to be taxed as a real estate
investment trust (“REIT”) for federal income tax purposes. NYMT is
an internally managed REIT in the business of acquiring, investing
in, financing and managing primarily mortgage-related single-family
and multi-family residential assets.
Forward-Looking Statements
When used in this press release, in future
filings with the Securities and Exchange Commission (the
“SEC”) or in other written or oral communications, statements which
are not historical in nature, including those containing words such
as “will,” “believe,” “expect,” “anticipate,” “estimate,” “plan,”
“continue,” “intend,” “could,” “would,” “should,” “may” or similar
expressions, are intended to identify “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), and, as such, may involve known and
unknown risks, uncertainties and assumptions. Statements regarding
the following subject, among others, may be forward-looking: the
payment of dividends.
Forward-looking statements are based on
estimates, projections, beliefs and assumptions of management of
the Company at the time of such statements and are not guarantees
of future performance. Forward-looking statements involve
risks and uncertainties in predicting future results and
conditions. Actual results and outcomes could differ materially
from those projected in these forward-looking statements due
to a variety of factors, including, without limitation: changes in
the Company’s business and investment strategy; changes in interest
rates and the fair market value of the Company’s assets, including
negative changes resulting in margin calls relating to the
financing of the Company’s assets; changes in credit spreads;
changes in the long-term credit ratings of the U.S., Fannie
Mae, Freddie Mac, and Ginnie Mae; general volatility of the
markets in which the Company invests; changes in prepayment rates
on the loans the Company owns or that underlie the Company’s
investment securities; increased rates of default or delinquencies
and/or decreased recovery rates on the Company’s assets; the
Company’s ability to identify and acquire targeted assets,
including assets in its investment pipeline; changes in
relationships with the Company’s financing counterparties and the
Company’s ability to borrow to finance its assets and the terms
thereof; the Company’s ability to predict and control costs;
changes in governmental laws, regulations or policies affecting the
Company’s business, including actions that may be taken to contain
or address the impact of the COVID-19 pandemic; the Company’s
ability to make distributions to its stockholders in the future;
the Company’s ability to maintain its qualification as a REIT for
federal tax purposes; the Company’s ability to maintain its
exemption from registration under the Investment Company Act of
1940, as amended; risks associated with investing in real estate
assets, including changes in business conditions and the general
economy, the availability of investment opportunities and the
conditions in the market for Agency RMBS, non-Agency RMBS, ABS and
CMBS securities, residential loans, structured multi-family
investments and other mortgage-, residential housing- and
credit-related assets, including changes resulting from the ongoing
spread and economic effects of COVID-19; and the impact of COVID-19
on the Company, its operations and its personnel.
These and other risks, uncertainties and
factors, including the risk factors described in the Company’s
reports filed with the SEC pursuant to the Exchange Act,
could cause the Company’s actual results to differ materially from
those projected in any forward-looking statements the Company
makes. All forward-looking statements speak only as of the date on
which they are made. New risks and uncertainties arise over time
and it is not possible to predict those events or how they may
affect the Company. Except as required by law, the Company is not
obligated to, and does not intend to, update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
For Further Information
Mari NittaInvestor Relations Associate
Phone: 646-795-4066Email: InvestorRelations@nymtrust.com
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