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

Rhea-AI Summary

Cherry Hill Mortgage Investment (NYSE: CHMI) has announced its common and preferred dividends for the second quarter of 2024. A dividend of $0.15 per share will be paid on CHMI’s common stock on July 31, 2024, to shareholders of record as of June 28, 2024.

Additionally, the Board of Directors has declared a dividend of $0.5125 per share on the 8.20% Series A Cumulative Redeemable Preferred Stock and $0.6995 per share on the 8.250% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock. These dividends will be payable on July 15, 2024, to shareholders of record as of June 28, 2024.

Positive

• Cherry Hill Mortgage announced consistent dividends for its shareholders.
• Common stock dividend of $0.15 per share provides steady income for investors.
• Preferred stock dividends offer higher yields: $0.5125 per share for Series A and $0.6995 per share for Series B.
• Dividends reflect financial stability and commitment to returning value to shareholders.

Negative

• Relatively low common stock dividend of $0.15 might be less attractive to new investors.
• The company's performance in other areas is not discussed, leaving potential uncertainties.
• No mention of growth strategies or future business plans in the press release.

Insights

Financial Analyst

Cherry Hill Mortgage Investment Corporation's announcement of dividends for the second quarter of 2024 reflects its commitment to returning value to shareholders. The dividend of $0.15 per share on common stock aligns with historical payout levels, indicative of steady performance in spite of broader market uncertainties.

The preferred dividends, specifically $0.5125 per share for the 8.20% Series A and $0.6995 per share for the 8.250% Series B, are noteworthy for their cumulative nature, providing a predictable income stream. These dividends reinforce Cherry Hill's ability to generate stable cash flows, which is essential for income-focused investors.

While the dividend yields relative to stock prices offer an attractive return, investors should also consider the potential risks associated with the mortgage REIT sector, including interest rate fluctuations and credit risk. A steady dividend payout may imply effective risk management and operational stability, but this should be continually monitored.

In the short term, the dividends provide immediate income, potentially supporting stock price stability. Long-term implications depend on Cherry Hill's ongoing ability to maintain or increase dividends, which requires robust financial health and efficient management of its mortgage assets.

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 second quarter of 2024. The dividend will be payable in cash on July 31, 2024 to holders of the common stock of record as of the close of business on June 28, 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 $0.6995 per share on the Company’s 8.250% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock for the second quarter of 2024. The dividends will be payable in cash on July 15, 2024 to holders of the applicable Series of Preferred Stock of record as of the close of business on June 28, 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/20240613060994/en/

Investor Relations

(877) 870 – 7005

InvestorRelations@CHMIreit.com

Source: Cherry Hill Mortgage Investment Corporation

FAQ

What is the common stock dividend for Cherry Hill Mortgage (CHMI) in the second quarter of 2024?

The common stock dividend for Cherry Hill Mortgage (CHMI) in the second quarter of 2024 is $0.15 per share.

When will Cherry Hill Mortgage (CHMI) pay the common stock dividend?

Cherry Hill Mortgage (CHMI) will pay the common stock dividend on July 31, 2024.

What is the record date for receiving the Cherry Hill Mortgage (CHMI) common stock dividend?

The record date for receiving the Cherry Hill Mortgage (CHMI) common stock dividend is June 28, 2024.

What dividends were declared for Cherry Hill Mortgage (CHMI) preferred stocks?

Cherry Hill Mortgage (CHMI) declared $0.5125 per share for the 8.20% Series A Preferred Stock and $0.6995 per share for the 8.250% Series B Preferred Stock.

When will Cherry Hill Mortgage (CHMI) pay the preferred stock dividends?

Cherry Hill Mortgage (CHMI) will pay the preferred stock dividends on July 15, 2024.

What is the record date for receiving Cherry Hill Mortgage (CHMI) preferred stock dividends?

The record date for receiving Cherry Hill Mortgage (CHMI) preferred stock dividends is June 28, 2024.