Two Harbors Investment Corp. Announces Fourth Quarter 2009 Dividend of $0.26 Per Share
NEW YORK, December 21, 2009 – The Board of Directors of Two Harbors Investment Corp. (“Two Harbors”) (NYSE Amex: TWO; TWO.WS) today declared a quarterly dividend of $0.26 per share of common stock for the fourth quarter of 2009; its first dividend since becoming an operating company on October 28, 2009. This dividend is payable January 26, 2010 to common shareholders of record at the close of business on December 31, 2009.
The Company distributes dividends based on its current estimate of taxable earnings per common share, not GAAP earnings. Taxable and GAAP earnings are expected to differ principally because of differences in discount accretion and premium amortization, treatment of dividends of earnings and profits from taxable real estate investment trust subsidiaries and non-deductible general and administrative expenses.
Two Harbors Investment Corp.
Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that focuses on investing in residential mortgage-backed securities. Two Harbors is headquartered in Minnetonka, Minnesota, and is externally managed and advised by PRCM Advisers, LLC, a wholly-owned subsidiary of Pine River Capital Management L.P. Additional information is available at www.twoharborsinvestment.com.
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “target,” “assume,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results.
Stockholders and warrant holders of Two Harbors, and other interested persons, may find additional information regarding the company at the Securities and Exchange Commission’s Internet site at www.sec.gov or by directing requests to: Two Harbors Investment Corp., 601 Carlson Parkway, Suite 330, Minnetonka, MN 55305, telephone 612-238-3300.
Media: Patrick Clifford or Pen Pendleton, The Abernathy MacGregor Group, 212-371-5999.
Investors: Anh Huynh, Investor Relations, Two Harbors Investment Corp., 612-238-3