Invesco Mortgage Capital Inc (NYSE:IVR) announced a quarterly dividend on Tuesday, March 19th, Wall Street Journal reports. Stockholders of record on Friday, March 29th will be given a dividend of 0.45 per share by the real estate investment trust on Friday, April 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 11.12%. The ex-dividend date is Thursday, March 28th. This is a boost from Invesco Mortgage Capital’s previous quarterly dividend of $0.42.
Invesco Mortgage Capital has decreased its dividend by an average of 1.4% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Invesco Mortgage Capital has a payout ratio of 105.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of IVR traded up $0.02 during midday trading on Tuesday, reaching $16.18. The stock had a trading volume of 1,163,357 shares, compared to its average volume of 1,478,229. Invesco Mortgage Capital has a 52 week low of $13.67 and a 52 week high of $16.66. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.01 and a current ratio of 0.01. The company has a market capitalization of $2.06 billion, a PE ratio of 9.31 and a beta of 0.72.
Separately, Barclays reissued a “hold” rating and issued a $15.00 price objective on shares of Invesco Mortgage Capital in a research note on Sunday, February 24th.
About Invesco Mortgage Capital
Invesco Mortgage Capital Inc operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential and commercial mortgage-backed securities, and other mortgage-related assets. It invests in residential mortgage-backed securities (RMBS) and commercial mortgage-backed securities (CMBS) that are guaranteed by a U.S.
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