Two Harbors Investment Corp. Announces Third Quarter 2010 Dividend of $0.39 per Share
NEW YORK, September 13, 2010 – The Board of Directors of Two Harbors Investment Corp. (NYSE Amex: TWO; TWO.WS) today declared a quarterly dividend of $0.39 per share of common stock for the third quarter of 2010. This dividend is payable October 21, 2010 to common stockholders of record at the close of business on September 30, 2010.
“Determining the dividend is a multi-variable contemplation that involves many factors, including near-term sustainability, realized earnings, compliance with REIT dividend distribution requirements and the anticipated impact on book value,” said Thomas Siering, Two Harbors’ President and Chief Executive Officer. “We are pleased to deliver this result to our shareholders.”
Two Harbors 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, certain non-taxable unrealized and realized gains and losses on derivatives, and non-deductible general and administrative expenses.
About Two Harbors Investment Corp.
Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that invests 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. Forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expected or implied. 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. 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. Two Harbors does not undertake to update its forward-looking statements.
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.
Anh Huynh, Investor Relations, Two Harbors Investment Corp., 212-364-3221.