PennyMac Mortgage Investment Corp 8% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
By: Tim McPartland,
Date Sold 6/27/2017
Shares Issued 7,000,000 Overallotment Shares 1,050,000
S&P Rating NR Moodys Rating NR
Security Ticker Symbol PMT-B OTC Grey Market PNNMP
Market Traded ON NYSE
Dividend Payment Paid on the 15th of March, June, September and December beginning on 9/15/2017
Quarterly Dividend .50 Annual Dividend 2.00
Securities may be redeemed, at the issuers option, as early as 6/15/2024 for a redemption price of $25/share plus accrued dividends.
Coupon is fixed at 8% until 6/15/2024 after which it floats at 5.99% 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