New York Mortgage Trust Declares Second Quarter 2020 Common Stock Dividend of $0.05 Per Share and Resumes Payment of Preferre...
June 15 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 $0.05 per share on shares of
its common stock for the quarter ending June 30, 2020. The dividend
will be payable on July 27, 2020 to common stockholders of record
as of the close of business on July 1, 2020.
In addition, the Board reinstated the payment of
cash dividends 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.
Preferred Stock Dividends in Arrears
The Board declared cash dividends for the
quarterly period that began on January 15, 2020 and ended on April
14, 2020 as follows:
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Class of Preferred Stock |
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Series B |
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Series C |
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Series D |
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Series E |
Record
Date |
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July 1, 2020 |
|
July 1, 2020 |
|
July 1, 2020 |
|
July 1, 2020 |
Payment Date |
|
July 15, 2020 |
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July 15, 2020 |
|
July 15, 2020 |
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July 15, 2020 |
Cash Dividend Per Share |
|
$0.484375 |
|
$0.4921875 |
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$0.50 |
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$0.4921875 |
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Current Quarterly Preferred Stock Dividends
The Board declared cash dividends for the
quarterly period that began on April 15, 2020 and ends on July 14,
2020 as follows:
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|
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|
|
|
|
Class of Preferred Stock |
|
Series B |
|
Series C |
|
Series D |
|
Series E |
Record Date |
|
July 1, 2020 |
|
July 1, 2020 |
|
July 1, 2020 |
|
July 1, 2020 |
Payment Date |
|
July 15, 2020 |
|
July 15, 2020 |
|
July 15, 2020 |
|
July 15, 2020 |
Cash Dividend Per Share |
|
$0.484375 |
|
$0.4921875 |
|
$0.50 |
|
$0.4921875 |
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|
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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 for federal income tax purposes (“REIT”). NYMT is
an internally managed REIT in the business of acquiring, investing
in, financing and managing mortgage-related and residential
housing-related assets and targets residential loans (including
distressed residential loans, non-QM loans, second mortgages and
other residential loans), structured multi-family property
investments such as multi-family CMBS and preferred equity in, and
mezzanine loans to, owners of multi-family properties, non-Agency
RMBS, Agency RMBS, Agency CMBS and other mortgage-related,
residential housing-related and credit-related 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”, “expect”
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 in response to COVID-19; 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 mortgage 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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