Chimera Investment Corp. - CIM STOCK NEWS

Chimera Investment Corporation (NYSE: CIM) announced its plans to release financial results for Q1 2021 on May 5, 2021, before 7:00 a.m. EDT. An accompanying conference call will occur at 8:30 a.m. EDT on the same day, where the company will discuss its financial performance. Investors can access the call by dialing (866) 643-4456 for U.S. toll-free or (703) 546-4241 for international participants, using Conference ID 8958472. A replay will be available for one week after the call.

Chimera Investment Corporation (NYSE: CIM) announced that on March 31, 2021, Dennis Mahoney will not stand for re-election at the 2021 Annual Meeting of Shareholders, where Paul Donlin will also retire. Mahoney has been an independent board member since April 2010 and served as Chairman of the Audit Committee. Donlin, a founding member and distinguished Chairman of the Board for over 13 years, played a key role in the company's success. The company appreciates their contributions during their tenure.

Chimera Investment Corporation (NYSE:CIM) announced two significant securitizations on March 25, 2021, totaling approximately $1.74 billion. The CIM 2021-R2 securitization is valued at $1.5 billion, while CIM 2021-NR2 is approximately $240.4 million. Both securitizations involved seasoned residential mortgage loans, with CIM retaining subordinate interests worth $224.6 million and $60.1 million respectively. The weighted average cost of debt for these securitizations is notably lower at 2.24%, compared to 4.22% for prior ones. Additionally, Chimera retired a $400 million loan, further strengthening its financial position.

The Board of Directors of Chimera Investment Corporation has declared its first quarter cash dividend of $0.30 per common share, payable on April 30, 2021. Shareholders on record as of March 31, 2021 will be eligible, with the ex-dividend date set for March 30, 2021. Additionally, the Board announced dividends for preferred stocks, including $0.50 for Series A, B, and D, and $0.484375 for Series C, all payable on March 31, 2021 to record holders as of March 25, 2021.

On February 25, 2021, Chimera Investment Corporation (NYSE:CIM) announced the successful sponsorship of two securitizations: CIM 2021-R1, worth $2.1 billion, and CIM 2021-NR1, totaling $233 million. The loans in these securitizations are sourced from prior transactions. The CIM 2021-R1 securities have a senior balance of approximately $1.8 billion, while CIM 2021-NR1’s senior balance is around $163 million. Notably, the expected weighted average cost of debt for these securitizations is significantly lower at 2.04%, compared to 5.20% for previous securitizations.

Chimera Investment Corporation (NYSE: CIM) announced the resignation of Teresa Bryce Bazemore from its Board of Directors, effective February 28, 2021. This decision comes as she takes on new responsibilities as the President and CEO of the Federal Home Loan Bank of San Francisco. Chairman Gerry Creagh expressed gratitude for her contributions to the board. Chimera Investment Corporation is a publicly traded REIT focused on a diversified portfolio, including mortgage loans and real estate assets.

Chimera Investment Corporation (CIM) reported a GAAP net income of $129 million (or $0.49 per share) for Q4 2020, with annual net income at $15 million ($0.07 per share). Core earnings reached $72 million ($0.29 per share) in Q4 and $334 million ($1.46 per share) for the year. The company experienced a 22% rebound in book value since mid-2020 and completed four securitizations totaling $4.2 billion. Total assets stood at $17.5 billion as of December 31, 2020.

Chimera Investment Corporation (NYSE: CIM) is set to announce its financial results for Q4 and full year ended December 31, 2020, on February 10, 2021, prior to 7:00 a.m. EDT. The company will host a conference call and audio webcast at 8:30 a.m. EDT that same day to discuss the results. Investors can join the call via a toll-free number or online webcast. A replay will be available for a week post-call. Chimera is a publicly traded REIT focused on investing in a diversified portfolio of real estate assets, including mortgage loans and various types of RMBS.

The Board of Directors of Chimera Investment Corporation has declared a fourth quarter cash dividend of $0.30 per common share, payable on January 29, 2021, to common stockholders of record by December 30, 2020. Additionally, several preferred stock dividends were announced, including $0.50 for Series A, Series B, and Series D, all payable on December 30, 2020, with a record date of December 15, 2020. Series C will pay $0.484375 on the same date. The ex-dividend date for common stock is December 29, 2020.