Cherry Hill Mortgage Investment Corporation Announces Common and Preferred Dividends for the Third Quarter 2024

Rhea-AI Summary

Cherry Hill Mortgage Investment (NYSE: CHMI) has announced its dividend distributions for the third quarter of 2024. The company's Board of Directors declared a common stock dividend of $0.15 per share, payable on October 31, 2024, to shareholders of record as of September 30, 2024. Additionally, preferred stock dividends were declared: $0.5125 per share for the 8.20% Series A Cumulative Redeemable Preferred Stock and $0.6986 per share for the 8.250% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock. Both preferred stock dividends will be paid on October 15, 2024, to shareholders of record as of September 30, 2024.

Positive

• Consistent dividend payments for both common and preferred stockholders
• Maintenance of dividend distribution schedule

Negative

• None.

Insights

Financial Analyst

Cherry Hill Mortgage Investment 's dividend announcement for Q3 2024 reveals a consistent payout strategy. The $0.15 per share common stock dividend maintains stability, which is important for REIT investors seeking reliable income. However, this doesn't indicate growth, potentially signaling caution in the current market environment. The preferred stock dividends of $0.5125 for Series A and $0.6986 for Series B underscore the company's commitment to its capital structure. While these payouts fulfill obligations to preferred shareholders, they also represent a fixed cost that could impact flexibility in challenging times. Investors should note that consistent dividends, while reassuring, don't necessarily reflect improved performance or growth prospects.

Market Research Analyst

This dividend announcement, while routine, offers insights into Cherry Hill's financial health and market positioning. The maintained common dividend suggests stable cash flows, but also hints at potential conservatism in capital allocation. In the current high-interest rate environment, mortgage REITs face challenges, making this steady approach prudent. The preferred stock dividends, particularly the Series B's floating rate structure, indicate Cherry Hill's adaptability to market conditions. However, investors should be aware that the total dividend obligation could strain resources if market conditions deteriorate. The October payout dates align with industry norms, providing predictability for income-focused investors. Overall, this announcement reflects a cautious yet committed approach to shareholder returns.

FARMINGDALE, N.J.--(BUSINESS WIRE)-- Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) today announced that its Board of Directors declared a dividend of $0.15 per share on the Company’s common stock for the third quarter of 2024. The dividend will be payable in cash on October 31, 2024 to holders of the common stock of record as of the close of business on September 30, 2024.

Additionally, Cherry Hill announced that its Board of Directors has declared a dividend of $0.5125 per share on the Company’s 8.20% Series A Cumulative Redeemable Preferred Stock and a dividend of $0.6986 per share on the Company’s 8.250% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock for the third quarter of 2024. The dividends will be payable in cash on October 15, 2024 to holders of the applicable Series of Preferred Stock of record as of the close of business on September 30, 2024.

About Cherry Hill Mortgage Investment Corporation

Cherry Hill Mortgage Investment Corporation is a real estate finance company that acquires, invests in and manages residential mortgage assets in the United States. For additional information, visit www.chmireit.com.

Forward-Looking Statements

This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including, among others, statements relating to the Company’s long-term growth opportunities and strategies, expand its market opportunities and create its own Excess MSRs and its ability to generate sustainable and attractive risk-adjusted returns for stockholders. These forward-looking statements are based upon the Company’s present expectations, but these statements are not guaranteed to occur. For a description of factors that may cause the Company's actual results or performance to differ from its forward-looking statements, please review the information under the heading “Risk Factors” included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and other documents filed by the Company with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240912679599/en/

Investor Relations

(877) 870-7005

InvestorRelations@CHMIreit.com

Source: Cherry Hill Mortgage Investment Corporation

FAQ

What is the dividend amount for CHMI common stock in Q3 2024?

Cherry Hill Mortgage Investment (CHMI) declared a dividend of $0.15 per share on its common stock for the third quarter of 2024.

When will CHMI pay its Q3 2024 common stock dividend?

The Q3 2024 common stock dividend for CHMI will be payable on October 31, 2024, to holders of record as of the close of business on September 30, 2024.

What are the preferred stock dividend amounts for CHMI in Q3 2024?

CHMI declared a dividend of $0.5125 per share on its 8.20% Series A Preferred Stock and $0.6986 per share on its 8.250% Series B Preferred Stock for Q3 2024.

When will CHMI pay its Q3 2024 preferred stock dividends?

CHMI will pay its Q3 2024 preferred stock dividends on October 15, 2024, to holders of record as of the close of business on September 30, 2024.