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Cherry Hill Mortgage Investment Corp's 8.20% Series A Cumulative Redeemable Preferred Stock Goes Ex-Dividend Soon

By Preferred Stock Channel Staff, Monday, March 25, 1:34 PM ET

On 3/27/24, Cherry Hill Mortgage Investment Corp's 8.20% Series A Cumulative Redeemable Preferred Stock (NYSE:CHMI.PRA) will trade ex-dividend, for its quarterly dividend of $0.5125, payable on 4/15/24. As a percentage of CHMI.PRA's recent share price of $22.90, this dividend works out to approximately 2.24%, so look for shares of CHMI.PRA to trade 2.24% lower — all else being equal — when CHMI.PRA shares open for trading on 3/27/24. On an annualized basis, the current yield is approximately 8.96%, which compares to an average yield of 7.67% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.

As of last close, CHMI.PRA was trading at a 8.48% discount to its liquidation preference amount. The chart below shows the one year performance of CHMI.PRA shares, versus CHMI:

Performance Comparison Chart

Below is a dividend history chart for CHMI.PRA, showing historical dividends prior to the most recent $0.5125 on Cherry Hill Mortgage Investment Corp's 8.20% Series A Cumulative Redeemable Preferred Stock:

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In Monday trading, Cherry Hill Mortgage Investment Corp's 8.20% Series A Cumulative Redeemable Preferred Stock (NYSE:CHMI.PRA) is currently up about 0.1% on the day, while the common shares (NYSE:CHMI) are up about 0.7%.

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