Chimera Investment (CIM) Volatile; Seeks Extension to 10-Q Filing, May Report Material Non-Cash Charge

Chimera Investment (NYSE: CIM) shares are volatile Friday morning following the company filing with the U.S. SEC for an extension on submission of its Form 10-Q for the first quarter.

According to the filing: "This review may result in a material non-cash change in the GAAP operating results of the Company that will not affect the Company’s previously announced GAAP or economic book values, actual cash flows, dividends and taxable income for any period. The Company’s dividend distributions are based on taxable income, not GAAP income, and the results of this analysis will have no impact on the Company’s prior or future dividend distributions."

Implied volatility on Chimera is up 18 percent from Thursday's close and 157.5 percent over it annual average.

Shares are about 0.4 percent positive Friday.

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