Invesco Mortgage Capital Inc. (IVR, Financial) has increased its quarterly dividend to 41 cents. The dividend is payable to shareholders of record on Sept. 27 with an ex-dividend date of Sept. 26 and a payable date of Oct. 26.
The increase follows a quarterly dividend of 40 cents, which it has paid for the last eight quarters. The firm currently has a one-year dividend growth rate of -5.88% and a three-year dividend growth rate of -11.39%.
The real estate investment trust (REIT) is currently trading at $17.10 with a forward dividend yield of 9.59%. Year to date, it has a return of 17.16%. The REIT currently has 111.6 million shares outstanding with 35.82% of its shares owned by institutional investors.
The REIT includes investments in residential and commercial mortgage-backed securities (MBS) as well as mortgage loans. In its most recent second-quarter earnings, released on Aug. 7, the company reported revenue of $82.94 million and earnings per share of 41 cents.
Revenue of $82.94 million increased 4.7% from the comparable quarter and contributed to revenue of $169.2 million for the first half of the year. Revenue for the first half of the year is up 8%.
EPS of 41 cents for the second quarter increased from -10 cents in the comparable quarter and decreased from 73 cents in the previous quarter. For the first half of the year, the company is now reporting EPS of $1.15, an increase from -$1.49 in 2016.
As of June 30, the REIT had total assets of $16.673 billion.
It currently holds the majority of its assets in agency residential mortgage-backed securities at $11.026 billion.
For the third quarter, analysts are predicting revenue of $73.2 million and EPS of 40 cents.
Disclosure: I do not own any shares of IVR.
