PennyMac Mortgage Investment Trust Declares Third Quarter 2017 Dividends for Its Preferred Shares
PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that its Board of Trustees has declared cash dividends for the
third quarter of 2017 on its 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest
(the “Series A Preferred Shares”) (NYSE: PMT PrA) and its 8.00% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred
Shares of Beneficial Interest (the “Series B Preferred Shares”) (NYSE: PMT PrB).
In accordance with the terms for each preferred series, the dividend information is as follows:
|
Series |
|
Ticker |
|
Per Annum
Dividend Rate
|
|
Dividend Per Share |
|
Payment Date |
|
Record Date |
|
Ex-Dividend Date |
A |
|
PMT PrA |
|
8.125% |
|
$0.507813 |
|
September 15, 2017 |
|
September 1, 2017 |
|
August 30, 2017 |
B |
|
PMT PrB |
|
8.000% |
|
$0.388890 |
|
September 15, 2017 |
|
September 1, 2017 |
|
August 30, 2017 |
|
About PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential
mortgage loans and mortgage-related assets. PennyMac Mortgage Investment Trust common shares trade on the New York Stock Exchange
under the symbol “PMT” and is externally managed by PNMAC Capital Management, LLC, an indirect subsidiary of PennyMac Financial
Services, Inc. (NYSE: PFSI). Additional information about PennyMac Mortgage Investment Trust is available at www.PennyMac-REIT.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended, regarding management’s beliefs, estimates, projections and assumptions with respect to, among other things, the
Company’s financial results, future operations, business plans and investment strategies, as well as industry and market
conditions, all of which are subject to change. Words like “believe,” “expect,” “anticipate,” “promise,” “plan,” and other
expressions or words of similar meanings, as well as future or conditional verbs such as “will,” “would,” “should,” “could,” or
“may” are generally intended to identify forward-looking statements. Actual results and operations for any future period may vary
materially from those projected herein and from past results discussed herein. Factors which could cause actual results to differ
materially from historical results or those anticipated include, but are not limited to: changes in our investment objectives or
investment or operational strategies, including any new lines of business or new products and services that may subject us to
additional risks; volatility in our industry, the debt or equity markets, the general economy or the real estate finance and real
estate markets specifically, whether the result of market events or otherwise; events or circumstances which undermine confidence
in the financial markets or otherwise have a broad impact on financial markets, such as the sudden instability or collapse of large
depository institutions or other significant corporations, terrorist attacks, natural or man-made disasters, or threatened or
actual armed conflicts; changes in general business, economic, market, employment and political conditions, or in consumer
confidence and spending habits from those expected; declines in real estate or significant changes in U.S. housing prices or
activity in the U.S. housing market; the availability of, and level of competition for, attractive risk-adjusted investment
opportunities in mortgage loans and mortgage-related assets that satisfy our investment objectives; the inherent difficulty in
winning bids to acquire mortgage loans, and our success in doing so; the concentration of credit risks to which we are exposed; the
degree and nature of our competition; our dependence on our manager and servicer, potential conflicts of interest with such
entities and their affiliates, and the performance of such entities; changes in personnel and lack of availability of qualified
personnel at our manager, servicer or their affiliates; the availability, terms and deployment of short-term and long-term capital;
the adequacy of our cash reserves and working capital; our ability to maintain the desired relationship between our financing and
the interest rates and maturities of our assets; the timing and amount of cash flows, if any, from our investments; unanticipated
increases or volatility in financing and other costs, including a rise in interest rates; the performance, financial condition and
liquidity of borrowers; the ability of our servicer, which also provides us with fulfillment services, to approve and monitor
correspondent sellers and underwrite loans to investor standards; incomplete or inaccurate information or documentation provided by
customers or counterparties, or adverse changes in the financial condition of our customers and counterparties; our indemnification
and repurchase obligations in connection with mortgage loans we purchase and later sell or securitize; the quality and
enforceability of the collateral documentation evidencing our ownership and rights in the assets in which we invest; increased
rates of delinquency, default and/or decreased recovery rates on our investments; the performance of mortgage loans underlying
mortgage-backed securities in which we retain credit risk; our ability to foreclose on our investments in a timely manner or at
all; increased prepayments of the mortgages and other loans underlying our mortgage-backed securities or relating to our mortgage
servicing rights, excess servicing spread and other investments; the degree to which our hedging strategies may or may not protect
us from interest rate volatility; the effect of the accuracy of or changes in the estimates we make about uncertainties,
contingencies and asset and liability valuations when measuring and reporting upon our financial condition and results of
operations; our failure to maintain appropriate internal controls over financial reporting; technologies for loans and our ability
to mitigate security risks and cyber intrusions; our ability to obtain and/or maintain licenses and other approvals in those
jurisdictions where required to conduct our business; our ability to detect misconduct and fraud; our ability to comply with
various federal, state and local laws and regulations that govern our business; developments in the secondary markets for our
mortgage loan products; legislative and regulatory changes that impact the mortgage loan industry or housing market; changes in
regulations or the occurrence of other events that impact the business, operations or prospects of government agencies or
government-sponsored entities, or such changes that increase the cost of doing business with such entities; the Dodd-Frank Wall
Street Reform and Consumer Protection Act and its implementing regulations and regulatory agencies, and any other legislative and
regulatory changes that impact the business, operations or governance of mortgage lenders and/or publicly-traded companies; the
Consumer Financial Protection Bureau and its issued and future rules and the enforcement thereof; changes in government support of
homeownership; changes in government or government-sponsored home affordability programs; limitations imposed on our business and
our ability to satisfy complex rules for us to qualify as a real estate investment trust (REIT) for U.S. federal income tax
purposes and qualify for an exclusion from the Investment Company Act of 1940 and the ability of certain of our subsidiaries to
qualify as REITs or as taxable REIT subsidiaries for U.S. federal income tax purposes, as applicable, and our ability and the
ability of our subsidiaries to operate effectively within the limitations imposed by these rules; changes in governmental
regulations, accounting treatment, tax rates and similar matters (including changes to laws governing the taxation of REITs, or the
exclusions from registration as an investment company); our ability to make distributions to our shareholders in the future; the
effect of public opinion on our reputation; the occurrence of natural disasters or other events or circumstances that could impact
our operations; and our organizational structure and certain requirements in our charter documents. You should not place undue
reliance on any forward-looking statement and should consider all of the uncertainties and risks described above, as well as those
more fully discussed in reports and other documents filed by the Company with the Securities and Exchange Commission from time to
time. The Company undertakes no obligation to publicly update or revise any forward-looking statements or any other information
contained herein, and the statements made in this press release are current as of the date of this release only.
PennyMac Mortgage Investment Trust
Media
Stephen Hagey, 805-530-5817
or
Investors
Christopher Oltmann, 818-224-7028
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