Cash Dividend On The Way From Pennymac Mortgage Investment Trust's Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred SharesBy Preferred Stock Channel Staff, Monday, November 28, 1:39 PM ETOn 11/30/22, Pennymac Mortgage Investment Trust's 8.00% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest (NYSE:PMT.PRB) will trade ex-dividend, for its quarterly dividend of $0.50, payable on 12/15/22. As a percentage of PMT.PRB's recent share price of $21.96, this dividend works out to approximately 2.28%, so look for shares of PMT.PRB to trade 2.28% lower — all else being equal — when PMT.PRB shares open for trading on 11/30/22. On an annualized basis, the current yield is approximately 9.13%, which compares to an average yield of 7.80% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, PMT.PRB was trading at a 12.36% discount to its liquidation preference amount. The chart below shows the one year performance of PMT.PRB shares, versus PMT:
Below is a dividend history chart for PMT.PRB, showing historical dividends prior to the most recent $0.50 on Pennymac Mortgage Investment Trust's 8.00% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest: Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation.
In Monday trading, Pennymac Mortgage Investment Trust's 8.00% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest (NYSE:PMT.PRB) is currently up about 0.2% on the day, while the common shares (NYSE:PMT) are down about 1.3%.
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