Granite Point Mortgage Trust Inc. (GPMT) Declares $0.20 Quarterly Dividend; 11.7% Yield

Granite Point Mortgage Trust Inc. (NYSE: GPMT) declared a quarterly dividend of $0.20 per share, or $0.8 annualized.

The dividend will be payable on October 19, 2020, to stockholders of record on October 8, 2020, with an ex-dividend date of October 7, 2020.

The annual yield on the dividend is 11.7 percent.

“When declaring the dividend, we consider a variety of factors, including, among others, the Company’s current and expected liquidity position and the level of Core Earnings the portfolio is estimated to generate in light of the current environment,” said Jack Taylor, Granite Point’s President, Chief Executive Officer and Director. “While significant uncertainty persists and the overall economy and real estate market continue to be negatively affected by the COVID-19 pandemic, our portfolio has performed well with over 99% of our borrowers making their August and September contractual loan payments. As previously announced, we also further enhanced our liquidity and financial flexibility by securing a $300 million strategic financing commitment. We believe the third quarter dividend is appropriate given the current performance of the Company’s loan portfolio, comprised of over 99% senior loans, as we continue to navigate the uncertain market environment.”

For a dividend history and other dividend-related data on Granite Point Mortgage Trust Inc. (GPMT) click here.

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