Pennymac Mortgage Investment Trust's Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest Ex-Dividend Reminder

By Preferred Stock Channel Staff, Tuesday, August 29, 3:00 PM ET

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On 8/31/23, 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 9/15/23. As a percentage of PMT.PRB's recent share price of $22.36, this dividend works out to approximately 2.24%, so look for shares of PMT.PRB to trade 2.24% lower — all else being equal — when PMT.PRB shares open for trading on 8/31/23. On an annualized basis, the current yield is approximately 8.93%, which compares to an average yield of 8.14% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.

As of last close, PMT.PRB was trading at a 10.40% discount to its liquidation preference amount. The chart below shows the one year performance of PMT.PRB shares, versus PMT:

Performance Comparison Chart

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:

Free Report: Top 8%+ Dividends (paid monthly)

In Tuesday 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 off about 0.2% on the day, while the common shares (NYSE:PMT) are up about 1.2%.

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Pennymac Mortgage Investment Trust's Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest Ex-Dividend Reminder

Pennymac Mortgage Investment Trust's Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest Ex-Dividend Reminder | www.PreferredStockChannel.com