PennyMac Mortgage Investment Trust Declares Second Quarter 2023 Dividends for Its Preferred Shares
18 Mai 2023 - 2:00PM
Business Wire
PennyMac Mortgage Investment Trust (NYSE: PMT) announced today
that its Board of Trustees has declared cash dividends for the
second quarter of 2023 on its 8.125% Series A Fixed-to-Floating
Rate Cumulative Redeemable Preferred Shares of Beneficial Interest
(NYSE: PMT PrA), its 8.000% Series B Fixed-to-Floating Rate
Cumulative Redeemable Preferred Shares of Beneficial Interest
(NYSE: PMT PrB) and its 6.750% Series C Cumulative Redeemable
Preferred Shares of Beneficial Interest (NYSE: PMT PrC).
In accordance with the terms for each preferred series, the
dividend information is as follows:
Series Ticker AnnualDividend Rate Dividend PerShare Record Date
Payment Date A PMT PrA
8.125%
$0.507813
June 1, 2023 June 15, 2023 B PMT PrB
8.000%
$0.500000
June 1, 2023 June 15, 2023 C PMT PrC
6.750%
$0.421875
June 1, 2023 June 15, 2023
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 wholly-owned subsidiary
of PennyMac Financial Services, Inc. (NYSE: PFSI). Additional
information about PennyMac Mortgage Investment Trust is available
at pmt.pennymac.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, PennyMac
Mortgage Investment Trust’s (the “Company”) 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
interest rates; the Company’s ability to comply with various
federal, state and local laws and regulations that govern its
business; changes in the Company’s investment objectives or
investment or operational strategies, including any new lines of
business or new products and services that may subject it to
additional risks; volatility in the Company’s industry, the debt or
equity markets, the general economy or the real estate finance and
real estate markets; events or circumstances which undermine
confidence in the financial and housing markets or otherwise have a
broad impact on financial and housing markets; changes in general
business, economic, market, employment and domestic and
international political conditions, or in consumer confidence and
spending habits from those expected; the degree and nature of the
Company’s competition; 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 the Company’s investment
objectives; the inherent difficulty in winning bids to acquire
mortgage loans, and the Company’s success in doing so; the
concentration of credit risks to which the Company is exposed; the
Company’s dependence on its 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 its manager, servicer or
their affiliates; the availability, terms and deployment of
short-term and long-term capital; the adequacy of the Company’s
cash reserves and working capital; the Company’s ability to
maintain the desired relationship between its financing and the
interest rates and maturities of its assets; the timing and amount
of cash flows, if any, from the Company’s investments; the
Company’s substantial amount of indebtedness; the performance,
financial condition and liquidity of borrowers; the Company’s
exposure to risks of loss and disruptions in operations resulting
from adverse weather conditions, man-made or natural disasters,
climate change and pandemics; the ability of the Company’s
servicer, which also provides the Company 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
the Company’s customers and counterparties; the Company’s
indemnification and repurchase obligations in connection with
mortgage loans it purchases and later sells or securitizes; the
quality and enforceability of the collateral documentation
evidencing the Company’s ownership and rights in the assets in
which it invests; increased rates of delinquency, defaults and
forbearances and/or decreased recovery rates on the Company’s
investments; the performance of mortgage loans underlying
mortgage-backed securities in which the Company retains credit
risk; the Company’s ability to foreclose on its investments in a
timely manner or at all; increased prepayments of the mortgages and
other loans underlying the Company’s mortgage-backed securities or
relating to the Company’s mortgage servicing rights and other
investments; the degree to which the Company’s hedging strategies
may or may not protect it from interest rate volatility; the effect
of the accuracy of or changes in the estimates the Company makes
about uncertainties, contingencies and asset and liability
valuations when measuring and reporting upon the Company’s
financial condition and results of operations; the Company’s
ability to maintain appropriate internal control over financial
reporting; technologies for loans and the Company’s ability to
mitigate security risks and cyber intrusions; the Company’s ability
to detect misconduct and fraud; developments in the secondary
markets for the Company’s 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 agencies
or entities; 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 the Company’s business and its ability to
satisfy complex rules for it to qualify as a 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 the
Company’s subsidiaries to qualify as REITs or as taxable REIT
subsidiaries for U.S. federal income tax purposes; changes in
governmental regulations, accounting treatment, tax rates and
similar matters; the Company’s ability to make distributions to its
shareholders in the future; the Company’s failure to deal
appropriately with issues that may give rise to reputational risk;
and the Company’s organizational structure and certain requirements
in its 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: https://www.businesswire.com/news/home/20230518005103/en/
Media Kristyn Clark kristyn.clark@pennymac.com
805.395.9943 Investors Kevin Chamberlain Isaac Garden
investorrelations@pennymac.com 818.224.7028
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