PennyMac Mortgage Investment Corp 8.125% Series A Fixed to Floating Rate Cumulative Redeemable Preferred Stock

By: ,

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


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Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
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