Granite Point Mortgage Trust Inc. Announces First Quarter 2021 Common Stock Dividend

Rhea-AI Summary

Granite Point Mortgage Trust Inc. (GPMT) announced a quarterly cash dividend of $0.25 per share for Q1 2021, payable on April 19, 2021. This dividend follows a robust performance of its investment portfolio, which is entirely composed of loans. According to CEO Jack Taylor, the increase reflects the company's strong earnings potential and confidence in future profitability. Shareholders of record as of April 1, 2021 will benefit from this income stream, bolstering the company's commitment to enhancing dividends over time.

Positive

• Quarterly dividend increased to $0.25 per share, enhancing shareholder income.
• Strong performance of the portfolio indicates robust earnings potential.

Negative

• None.

Granite Point Mortgage Trust Inc. (NYSE: GPMT) (“GPMT,” “Granite Point” or the “Company”) today announced that the Company’s Board of Directors declared a quarterly cash dividend of $0.25 per share of common stock for the first quarter of 2021. This dividend will be payable on April 19, 2021 to common stockholders of record as of April 1, 2021.

“Our investment objective includes providing our stockholders an attractive income stream in the form of common dividends derived from cash flows produced by our defensively-positioned, conservatively-underwritten and well-diversified investment portfolio comprised of 100% loans,” said Jack Taylor, Granite Point’s Chief Executive Officer, President and Director. “Given the strong performance of our portfolio in the overall market environment, its earnings generation potential, and the level of our taxable income, we believe that increasing our common dividend to $0.25 per share is appropriate. We remain focused on improving our earnings and dividends over time. Together with our Board of Directors, we will continue to evaluate the level of our common stock dividend taking into consideration, among other factors, core profitability of our business, liquidity needs, our capital structure, and market conditions.”

About Granite Point Mortgage Trust Inc.

Granite Point Mortgage Trust Inc. is a Maryland corporation focused on directly originating, investing in and managing senior floating rate commercial mortgage loans and other debt and debt-like commercial real estate investments. Granite Point is headquartered in New York, NY. Additional information is available at www.gpmtreit.com.

Additional Information

Stockholders of Granite Point and other interested persons may find additional information regarding the Company at the Securities and Exchange Commission’s Internet site at www.sec.gov or by directing requests to: Granite Point Mortgage Trust Inc., 3 Bryant Park, 24^th floor, New York, NY 10036, telephone (212) 364-5500.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210318005980/en/

FAQ

What is the GPMT dividend payment amount for Q1 2021?

Granite Point Mortgage Trust declared a dividend of $0.25 per share for Q1 2021.

When is the GPMT dividend payment date?

The dividend will be paid on April 19, 2021.

Who is eligible for the GPMT dividend?

Stockholders of record as of April 1, 2021, are eligible for the dividend.

What factors influence GPMT’s dividend decisions?

Dividend decisions are influenced by core profitability, liquidity needs, capital structure, and market conditions.