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

Rhea-AI Summary

Cherry Hill Mortgage Investment (NYSE: CHMI) has announced its Q4 2024 dividend distributions. The company declared a common stock dividend of $0.15 per share, payable on January 31, 2025, to stockholders of record as of December 31, 2024.

Additionally, the company declared preferred stock dividends: $0.5125 per share for its 8.20% Series A Cumulative Redeemable Preferred Stock and $0.6739 per share for its 8.250% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock. Both preferred dividends will be paid on January 15, 2025, to stockholders of record as of December 31, 2024.

Positive

• Maintained dividend payments across all share classes
• Consistent preferred dividend payments indicating financial stability

Negative

• None.

Insights

Financial Analyst

This quarterly dividend announcement reveals CHMI maintaining its dividend levels, with $0.15 per common share representing a relatively modest payout. For a small-cap mortgage REIT with $83.8M market cap, the steady preferred dividend payments on both Series A ($0.5125) and Series B ($0.6739) indicate financial stability in meeting senior obligations. The fixed-to-floating rate structure of Series B provides some interest rate risk protection. The consistent dividend policy suggests management's confidence in near-term cash flows, though the common dividend remains at lower levels compared to historical payouts, reflecting current market challenges in the mortgage REIT sector.

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 fourth quarter of 2024. The dividend will be payable in cash on January 31, 2025 to holders of the common stock of record as of the close of business on December 31, 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 $0.6739 per share on the Company’s 8.250% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock for the fourth quarter of 2024. The dividends will be payable in cash on January 15, 2025 to holders of the applicable Series of Preferred Stock of record as of the close of business on December 31, 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/20241212150478/en/

Investor Relations

(877) 870 – 7005

InvestorRelations@CHMIreit.com

Source: Cherry Hill Mortgage Investment Corporation

FAQ

What is Cherry Hill Mortgage's Q4 2024 common stock dividend amount?

Cherry Hill Mortgage announced a common stock dividend of $0.15 per share for Q4 2024.

When will CHMI's Q4 2024 common dividend be paid?

The Q4 2024 common dividend will be paid on January 31, 2025, to stockholders of record as of December 31, 2024.

What is the dividend amount for CHMI's Series A Preferred Stock?

The Series A Preferred Stock dividend is $0.5125 per share for Q4 2024.

What is the dividend amount for CHMI's Series B Preferred Stock?

The Series B Preferred Stock dividend is $0.6739 per share for Q4 2024.

When will CHMI's preferred stock dividends be paid for Q4 2024?

Both Series A and Series B preferred stock dividends will be paid on January 15, 2025, to stockholders of record as of December 31, 2024.