PennyMac Mortgage Investment Corp 8.125% Series A Fixed to Floating Rate Cumulative Redeemable Preferred Stock
By: Tim McPartland,
Date Sold 3/2/2017
Shares Issued 4,600,000 Overallotment Shares 690,000
S&P Rating NR Moodys Rating NR
Security Ticker Symbol PMT-A OTC Grey Market PNNYP
Market Traded ON NYSE
Dividend Payment Paid on the 15th of March, June, September and December beginning on 6/15/2017
Quarterly Dividend .507 Annual Dividend 2.0312
Securities may be redeemed, at the issuers option, as early as 3/30/2024 for a redemption price of $25/share plus accrued dividends.
Coupon is fixed at 8.125% until 3/15/2024 after which it floats at 5.831% plus 3 month Libor.
Dividend Payment Will NOT be a Qualified Distributions (REIT Preferred Share dividends are not Qualifying Dividends)
Maturity Date None
Company Investor Relations Page for PennyMac Mortgage Investment
Click Here to find the offering Prospectus and/or Final Pricing Document
Dividend Income Expert Bryan Perry