Cherry Hill Mortgage Preferred Stocks Face Dividend Impact

Cherry Hill Mortgage Investment Corp's 8.250% Series B Preferred Stock will trade ex-dividend on 12/31/24. A 2.74% drop is expected, impacting CHMI.PRB shares. This dividend highlights a robust annual yield of 11.05%, exceeding average sector yields.

Date: 31-12-2024

AI Rating: 6

Dividend Announcement: Cherry Hill Mortgage Investment Corp's 8.250% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (CHMI.PRB) is scheduled for an ex-dividend date on December 31, 2024. The quarterly dividend is set at $0.6739. This dividend results in an expected drop of approximately 2.74% from CHMI.PRB's recent share price of $24.56 when trading resumes on that date.

Expected Yield and Comparison: The announced quarterly dividend represents a substantial annual yield of about 11.05%. This yield is considerably higher than the average of 7.89% in the real estate preferred stock category, indicating a strong return potential for investors in CHMI.PRB relative to its peers.

Market Reaction: As of the latest trading data, CHMI.PRB has shown resilience, with a slight increase of approximately 0.7% on the trading day while the common shares (CHMI) remained flat. This performance could reflect investor confidence in the dividend yield despite the upcoming ex-dividend date.

Stocks: CHMI