Two Harbors Declares New Common Stock Dividend; Yield Is Nearly 11%
Mortgage real estate investment trust (mREIT) Two Harbors (NYSE: TWO) has declared a set of new quarterly dividends, most notably for its common stock. Holders of that security will receive $0.14 per share from their company, payable on Oct. 29 to investors of record as of Oct. 1. At the current share price, this yields 10.9%.
As Two Harbors is a mREIT, its profitability can vary widely from quarter to quarter. And since, as a REIT, it is required to distribute at least 90% of its net earnings as shareholder dividends, its payout can also fluctuate, often violently. That said, this new amount matches the previous distribution; before that, it was $0.05 per share, having been cut from the preceding $0.40.
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Source Fool.com
