AG Mortgage Investment Trust, Inc. Announces Fourth Quarter 2024 Common Dividend of $0.19 per Share

Rhea-AI Summary

AG Mortgage Investment Trust (NYSE: MITT) has announced its fourth quarter 2024 dividend payment. The company's Board of Directors declared a dividend of $0.19 per common share. The dividend will be paid on January 31, 2025, to shareholders who are recorded as holders by the close of business on December 31, 2024.

Positive

• Maintains quarterly dividend distribution of $0.19 per share

Negative

• None.

Insights

Financial Analyst

The quarterly dividend announcement of $0.19 per share maintains MITT's previous payout level, translating to a forward yield of approximately 9.5% based on current share price. For a mortgage REIT with a market cap of $210 million, this consistent dividend signals stable cash flow generation from their mortgage investment portfolio. The dividend maintenance, rather than a cut, suggests management's confidence in the company's ability to sustain its distribution policy despite the challenging interest rate environment. However, investors should note that mortgage REITs' dividends can be volatile due to interest rate sensitivity and credit market conditions. This announcement primarily affects income-focused investors who rely on regular dividend payments.

NEW YORK--(BUSINESS WIRE)-- AG Mortgage Investment Trust, Inc. (NYSE: MITT) (the “Company”) announced today that its Board of Directors has declared a dividend of $0.19 per common share for the fourth quarter 2024. The dividend is payable on January 31, 2025 to shareholders of record at the close of business on December 31, 2024.

About AG Mortgage Investment Trust, Inc.

AG Mortgage Investment Trust, Inc. is a residential mortgage REIT with a focus on investing in a diversified risk-adjusted portfolio of residential mortgage-related assets in the U.S. mortgage market. AG Mortgage Investment Trust, Inc. is externally managed and advised by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P., a diversified credit and real estate investing platform within TPG.

Additional information can be found on the Company’s website at www.agmit.com.

About TPG Angelo Gordon

Founded in 1988, Angelo, Gordon & Co., L.P. (“TPG Angelo Gordon”) is a diversified credit and real estate investing platform within TPG. The platform currently manages approximately $88 billion across a broad range of credit and real estate strategies. For more information, visit www.angelogordon.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241216624157/en/

AG Mortgage Investment Trust, Inc.

Investor Relations

(212) 692-2110

ir@agmit.com

Source: AG Mortgage Investment Trust, Inc.

FAQ

What is AG Mortgage Investment Trust's Q4 2024 dividend amount?

AG Mortgage Investment Trust (MITT) declared a dividend of $0.19 per common share for the fourth quarter of 2024.

When is the payment date for MITT's Q4 2024 dividend?

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

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

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

How much will MITT shareholders receive per share for Q4 2024?

MITT shareholders will receive $0.19 per common share for the fourth quarter of 2024.