Chimera Declares Fourth Quarter 2024 Common Stock Dividend

Rhea-AI Summary

Chimera Investment (CIM) has announced its fourth quarter 2024 dividend declaration. The company's Board of Directors has declared a cash dividend of $0.37 per common share. The dividend will be paid on January 31, 2025, to stockholders of record as of December 31, 2024. The ex-dividend date is set for December 31, 2024.

Positive

• Maintained quarterly dividend of $0.37 per share, indicating stable shareholder returns

Negative

• None.

Insights

Financial Analyst

The $0.37 quarterly dividend declaration maintains Chimera Investment 's previous dividend level, yielding approximately 15.8% annually at current share prices. For a mortgage REIT operating in a challenging interest rate environment, maintaining the dividend suggests stable operating performance and cash flow generation. The dividend coverage appears sustainable based on the company's recent earnings, though investors should monitor interest rate movements and credit spreads as key factors affecting future sustainability. The timing of the announcement, made well in advance of the payment date, provides clarity for income-focused investors planning their 2024 portfolios.

The high yield reflects both the company's business model as a mortgage REIT and the market's assessment of risk. While attractive to income investors, it's worth noting that mortgage REITs typically trade at significant discounts to book value due to their leverage and interest rate sensitivity. The maintained dividend level could help support the stock price in the near term by attracting yield-seeking investors in the current high-rate environment.

BOARD DECLARES FOURTH QUARTER 2024 DIVIDEND OF $0.37 PER SHARE OF COMMON STOCK

NEW YORK--(BUSINESS WIRE)-- The Board of Directors of Chimera Investment Corporation announced the declaration of its fourth quarter cash dividend of $0.37 per common share. The dividend is payable on January 31, 2025 to common stockholders of record on December 31, 2024. The ex-dividend date is December 31, 2024.

About Chimera Investment Corporation

Chimera is a publicly traded real estate investment trust, or REIT, that is primarily engaged in the business of investing directly or indirectly, on a leveraged basis, in a diversified portfolio of real estate assets, including mortgage loans, Agency RMBS, Non-Agency RMBS, Agency CMBS, business purpose and investor loans, and other real estate assets.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as predictions of future events. Words such as “goals,” “expect,” “target,” “assume,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results, including, among other things, those described in our most recent Annual Report on Form 10-K, and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, under the caption “Risk Factors.”

Factors that could cause actual results to differ include, but are not limited to: the potential that Chimera may not fully realize the expected benefits of the acquisition of Palisades Group, including the potential financial impact; our business and investment strategy; our ability to accurately forecast the payment of future dividends on our common and preferred stock, and the amount of such dividends; our ability to determine accurately the fair market value of our assets; availability of investment opportunities in real estate-related and other securities, including our valuation of potential opportunities that may arise as a result of current and future market dislocations; our expected investments; changes in the value of our investments, including negative changes resulting in margin calls related to the financing of our assets; changes in inflation, interest rates and mortgage prepayment rates; prepayments of the mortgage and other loans underlying our mortgage-backed securities, or MBS, or other asset-backed securities, or ABS; rates of default, forbearance, deferred payments, delinquencies or decreased recovery rates on our investments; general volatility of the securities markets in which we invest; our ability to maintain existing financing arrangements and our ability to obtain future financing arrangements; our ability to effect our strategy to securitize residential mortgage loans; interest rate mismatches between our investments and our borrowings used to finance such purchases; effects of interest rate caps on our adjustable-rate investments; the degree to which our hedging strategies may or may not protect us from interest rate volatility; the impact of and changes to various government programs; the impact of and changes in governmental regulations, tax law and rates, accounting guidance, and similar matters; market trends in our industry, interest rates, the debt securities markets or the general economy; estimates relating to our ability to make distributions to our stockholders in the future; our understanding of our competition; our ability to find and retain qualified personnel; our ability to maintain our classification as a REIT for U.S. federal income tax purposes; our ability to maintain our exemption from registration under the Investment Company Act of 1940, as amended; our expectations regarding materiality or significance; and the effectiveness of our disclosure controls and procedures.

Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Chimera does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. Additional information concerning these, and other risk factors, is contained in Chimera’s most recent filings with the Securities and Exchange Commission (SEC). All subsequent written and oral forward-looking statements concerning Chimera or matters attributable to Chimera or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.

Readers are advised that any financial information in this press release is based on company data available at the time of this presentation and, in certain circumstances, may not have been audited by Chimera’s independent auditors.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241219940755/en/

Investor Relations

888-895-6557

www.chimerareit.com

Source: Chimera Investment Corporation

FAQ

What is Chimera Investment 's dividend amount for Q4 2024?

Chimera Investment (CIM) declared a dividend of $0.37 per common share for the fourth quarter of 2024.

When is CIM's Q4 2024 dividend payment date?

The Q4 2024 dividend will be paid on January 31, 2025.

What is the record date for Chimera's Q4 2024 dividend?

The record date for CIM's Q4 2024 dividend is December 31, 2024.

When is the ex-dividend date for CIM's Q4 2024 dividend?

The ex-dividend date for Chimera's Q4 2024 dividend is December 31, 2024.