Two Harbors Investment Corp. 8.125% Series A, Fixed to Floating Rate Cumulative Redeemable Preferred Stock
By: Tim McPartland,
Date Sold 3/7/2017
Shares Issued 5,000,000 Overallotment Shares 750,000
S&P Rating NR Moodys Rating NR
Security Ticker Symbol TWO-A OTC Grey Market TWHBP
Market Traded ON NYSE
Dividend Payment Paid on the 27th of January, April, July and October beginning on 7/27/2017
Quarterly Dividend .508 Annual Dividend 2.0312
Securities may be redeemed, at the issuers option, as early as 4/27/2027 for a redemption price of $25/share plus accrued dividends.
Coupon is fixed at 8.125% until 4/26/2027 after which it floats at 5.66% plus 3 month Libor.
Dividend Payment Will NOT be a Qualified Distributions (REIT Preferred Share dividends are not Qualifying Dividends)
Maturity Date None