AG Mortgage Investment Trust, Inc. Increases Quarterly Common Dividend 5.6% to $0.19 per Share
AG Mortgage Investment Trust (NYSE: MITT) has announced a 5.6% increase in its quarterly common dividend, raising it to $0.19 per share for Q2 2024. This dividend, payable on July 31, 2024, will be given to shareholders of record as of June 28, 2024. CEO TJ Durkin states that the increase aligns with their long-term earnings growth and reflects the strength of their investment portfolio along with the additional scale from a recent merger. The company remains focused on optimizing its capital structure to drive long-term shareholder value.
- Quarterly dividend increased by 5.6% to $0.19 per share.
- Alignment of dividend increase with long-term earnings growth.
- Statement of continued strength in the investment portfolio.
- Additional scale created by a recently completed merger.
- Dividend increase may not be sustainable if long-term earnings growth doesn't continue.
- Dependency on successful integration and performance post-merger.
“We believe in steadily increasing our dividend to align with our long-term earnings growth, and this increase reflects the sustainability and continuing strength of the earnings power in our investment portfolio along with additional scale created by the recently completed merger,” said TJ Durkin, Chief Executive Officer and President. “We remain committed to executing our strategy to further optimize our capital structure and scale to drive long-term shareholder value.”
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
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
Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with the safe harbor provisions. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will,” “should,” “may,” “projects,” “could,” “estimates” or variations of such words and other similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature, but not all forward-looking statements include such identifying words. Forward-looking statements regarding the Company include, but are not limited to, statements regarding the Company’s ability to execute its strategy, including to further optimize its capital structure and scale to drive long-term shareholder value, the amount and timing of dividends, including the Company’s ability to steadily increase its dividend to align with long-term earnings growth or at all, and the sustainability and continuing strength of the Company’s earnings power. These forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The Company believes these factors include, without limitation, the risk factors contained in the Company’s filings with the Securities and Exchange Commission (“SEC”), including those described under the headings “Forward-Looking Statements” and “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and in other reports and documents filed by the Company with the SEC from time to time. Moreover, other risks and uncertainties of which the Company is not currently aware may also affect the Company’s forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements made in this press release are made only as of the date of this press release or as of the dates indicated in the forward-looking statements, even if they are subsequently made available by the Company on its website or otherwise. The Company undertakes no obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made, except as required by law.
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Investors
AG Mortgage Investment Trust, Inc.
Investor Relations
(212) 692-2110
ir@agmit.com
Source: AG Mortgage Investment Trust, Inc.
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