Two Harbors Keeps Dividend Steady
Jun 13th 2013 9:34PM
Updated Jun 14th 2013 10:50AM
Mortgage-backed securities REIT Two Harbors Investment announced today its second-quarter dividend of $0.31 per share, $0.01 per share lower than it paid last quarter.
Two Harbors had also issued a special dividend last quarter to distribute the company's shares of Silver Bay Realty Trust . It had received 17.8 million shares of Silver Bay stock in exchange for contributing its portfolio of over 2,200 single-family homes to Silver Bay, concurrent with the closing of Silver Bay's IPO in December of 2012.
The board of directors said the quarterly dividend is payable on July 23 to the holders of record at the close of business on June 28. The rmREIT has made quarterly payouts to investors since 2008.
The regular dividend payment equates to a $1.24-per-share annual dividend, yielding 11.8% based on the closing price of Two Harbor Investment's stock on June 12.
Editor's note: A previous version of this article contained an incorrect dividend yield. The Fool regrets the error.
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