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| Cash Dividend On The Way From Granite Point Mortgage Trust Preferred StockBy Preferred Stock Channel Staff, Tuesday, March 26, 1:37 PM ET
On 3/28/24, Granite Point Mortgage Trust Inc's 7.0% Ser A Fix/Float Cumul Prrd Stock (NYSE:GPMT.PRA) will trade ex-dividend, for its quarterly dividend of $0.4375, payable on 4/15/24. As a percentage of GPMT.PRA's recent share price of $17.95, this dividend works out to approximately 2.44%, so look for shares of GPMT.PRA to trade 2.44% lower — all else being equal — when GPMT.PRA shares open for trading on 3/28/24. On an annualized basis, the current yield is approximately 9.71%, which compares to an average yield of 7.70% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, GPMT.PRA was trading at a 27.92% discount to its liquidation preference amount. The chart below shows the one year performance of GPMT.PRA shares, versus GPMT:
Below is a dividend history chart for GPMT.PRA, showing historical dividends prior to the most recent $0.4375 on Granite Point Mortgage Trust Inc's 7.0% Ser A Fix/Float Cumul Prrd Stock: Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation.
In Tuesday trading, Granite Point Mortgage Trust Inc's 7.0% Ser A Fix/Float Cumul Prrd Stock (NYSE:GPMT.PRA) is currently off about 0.4% on the day, while the common shares (NYSE:GPMT) are down about 0.8%.
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