New York Mortgage Trust Declares Second Quarter 2024 Common Stock Dividend of $0.20 Per Share, and Preferred Stock Dividends

Rhea-AI Summary

New York Mortgage Trust (NYSE: NYMT) announced on June 18, 2024, that its Board of Directors declared a regular quarterly cash dividend of $0.20 per share on its common stock for Q2 2024. The dividend is payable on July 29, 2024, to shareholders recorded by June 28, 2024.

Additionally, the Board declared dividends on four series of preferred stocks: Series D ($0.50), Series E ($0.4921875), Series F ($0.4296875), and Series G ($0.4375). These dividends cover the period from April 15 to July 14, 2024, and are payable on July 15, 2024, to preferred shareholders recorded by July 1, 2024.

Positive

• Declared a quarterly cash dividend of $0.20 per share on common stock.
• Board declared dividends on Series D, E, F, and G preferred stocks.
• Common stock dividends payable on July 29, 2024.
• Preferred stock dividends payable on July 15, 2024.

Negative

• None.

Insights

Financial Analyst

The New York Mortgage Trust (NYMT) declaring its quarterly dividends provides a measure of financial stability and returns to investors. For the second quarter of 2024, the company announced a dividend of $0.20 per share for its common stock. This consistency in dividend payments can be attractive to income-focused investors and suggests a steady cash flow situation.

Additionally, the company declared dividends for its preferred stock series with rates ranging from 6.875% to 8%. These preferred dividends offer higher yields compared to common stock, making them appealing to risk-averse investors seeking stable income.

From a financial perspective, the declaration of dividends often reflects management's confidence in the company's ability to generate earnings. However, potential investors should consider the sustainability of these dividends, given market conditions and the mortgage sector's inherent risks. It's also essential to monitor the payout ratios to ensure that the company isn't over-leveraging to meet these obligations.

Overall, consistent dividend payouts can be a positive signal, but investors must weigh them against the broader financial health and market positioning of NYMT.

NEW YORK, June 18, 2024 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq: NYMT) (the “Company”) announced today that its Board of Directors (the “Board”) declared a regular quarterly cash dividend of $0.20 per share on shares of its common stock for the quarter ending June 30, 2024. The dividend will be payable on July 29, 2024 to common stockholders of record as of the close of business on June 28, 2024.

In addition, the Board declared cash dividends on the Company’s 8.000% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (“Series D Preferred Stock”), 7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (“Series E Preferred Stock”), 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (“Series F Preferred Stock”) and 7.000% Series G Cumulative Redeemable Preferred Stock (“Series G Preferred Stock”) as stated below.

Quarterly Preferred Stock Dividends
The Board declared cash dividends for the dividend period that began on April 15, 2024 and ends on July 14, 2024 as follows:

Class of Preferred Stock		Series D		Series E		Series F		Series G
Record Date		July 1, 2024		July 1, 2024		July 1, 2024		July 1, 2024
Payment Date		July 15, 2024		July 15, 2024		July 15, 2024		July 15, 2024
Cash Dividend Per Share		$0.50		$0.4921875		$0.4296875		$0.4375

About New York Mortgage Trust
New York Mortgage Trust, Inc. is a Maryland corporation that has elected to be taxed as a real estate investment trust (“REIT”) for federal income tax purposes. NYMT is an internally managed REIT in the business of acquiring, investing in, financing and managing primarily mortgage-related single-family and multi-family residential assets.

Forward-Looking Statements
When used in this press release, in future filings with the Securities and Exchange Commission (the “SEC”) or in other written or oral communications, statements which are not historical in nature, including those containing words such as “will,” “believe,” “expect,” “anticipate,” “estimate,” “plan,” “continue,” “intend,” “could,” “would,” “should,” “may” or similar expressions, are intended to identify “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 “Exchange Act”), and, as such, may involve known and unknown risks, uncertainties and assumptions. Statements regarding the following subject, among others, may be forward-looking: the payment of dividends.

Forward-looking statements are based on estimates, projections, beliefs and assumptions of management of the Company at the time of such statements and are not guarantees of future performance. Forward-looking statements involve risks and uncertainties in predicting future results and conditions. Actual results and outcomes could differ materially from those projected in these forward-looking statements due to a variety of factors, including, without limitation: changes in the Company’s business and investment strategy; inflation and changes in interest rates and the fair market value of the Company’s assets, including negative changes resulting in margin calls relating to the financing of the Company’s assets; changes in credit spreads; changes in the long-term credit ratings of the U.S., Fannie Mae, Freddie Mac, and Ginnie Mae; general volatility of the markets in which the Company invests; changes in prepayment rates on the loans the Company owns or that underlie the Company’s investment securities; increased rates of default, delinquency or vacancy and/or decreased recovery rates on or at the Company’s assets; the Company’s ability to identify and acquire targeted assets, including assets in its investment pipeline; the Company's ability to dispose of assets from time to time on terms favorable to it, including the disposition over time of its joint venture equity investments; changes in relationships with the Company’s financing counterparties and the Company’s ability to borrow to finance its assets and the terms thereof; changes in the Company's relationships with and/or the performance of its operating partners; the Company’s ability to predict and control costs; changes in laws, regulations or policies affecting the Company’s business; the Company’s ability to make distributions to its stockholders in the future; the Company’s ability to maintain its qualification as a REIT for federal tax purposes; the Company’s ability to maintain its exemption from registration under the Investment Company Act of 1940, as amended; impairments in the value of the collateral underlying the Company's investments; the Company's ability to manage or hedge credit risk, interest rate risk, and other financial and operational risks; the Company's exposure to liquidity risk, risks associated with the use of leverage, and market risks; and risks associated with investing in real estate assets, including changes in business conditions and the general economy, the availability of investment opportunities and the conditions in the market for Agency RMBS, non-Agency RMBS, ABS and CMBS securities, residential loans, structured multi-family investments and other mortgage-, residential housing- and credit-related assets.

These and other risks, uncertainties and factors, including the risk factors and other information described in the Company’s reports filed with the SEC pursuant to the Exchange Act, could cause the Company’s actual results to differ materially from those projected in any forward-looking statements the Company makes. All forward-looking statements speak only as of the date on which they are made. New risks and uncertainties arise over time and it is not possible to predict those events or how they may affect the Company. Except as required by law, the Company is not obligated to, and does not intend to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For Further Information

AT THE COMPANY
Investor Relations
Phone: 212-792-0107
Email: InvestorRelations@nymtrust.com

FAQ

What is the dividend amount declared by New York Mortgage Trust (NYMT) for Q2 2024?

New York Mortgage Trust declared a quarterly cash dividend of $0.20 per share on its common stock for Q2 2024.

When is the dividend payment date for NYMT's common stock in Q2 2024?

The dividend payment date for NYMT's common stock is July 29, 2024.

What is the record date for NYMT's common stock dividend for Q2 2024?

The record date for the common stock dividend is June 28, 2024.

What are the dividends declared for NYMT's preferred stocks in Q2 2024?

NYMT declared quarterly dividends for Series D ($0.50), Series E ($0.4921875), Series F ($0.4296875), and Series G ($0.4375) preferred stocks.

When will NYMT's preferred stock dividends be paid in Q2 2024?

NYMT's preferred stock dividends will be paid on July 15, 2024.

What is the record date for NYMT's preferred stock dividends for Q2 2024?

The record date for the preferred stock dividends is July 1, 2024.