AG Mortgage Investment Trust, Inc. Increases Quarterly Common Dividend 5.6% to $0.19 per Share
June 13 2024 - 3:05PM
Business Wire
AG Mortgage Investment Trust, Inc. (NYSE: MITT) (the “Company”)
announced today that its Board of Directors has declared a dividend
of $0.19 per common share for the second quarter 2024, representing
a 5.6% increase over the prior quarter dividend of $0.18 per common
share. The dividend is payable on July 31, 2024 to shareholders of
record at the close of business on June 28, 2024.
“We believe in steadily increasing our dividend to align with
our long-term earnings growth, and this increase reflects the
sustainability and continuing strength of the earnings power in our
investment portfolio along with additional scale created by the
recently completed merger,” said TJ Durkin, Chief Executive Officer
and President. “We remain committed to executing our strategy to
further optimize our capital structure and scale to drive long-term
shareholder value.”
About AG Mortgage Investment Trust, Inc.
AG Mortgage Investment Trust, Inc. is a residential mortgage
REIT with a focus on investing in a diversified risk-adjusted
portfolio of residential mortgage-related assets in the U.S.
mortgage market. AG Mortgage Investment Trust, Inc. is externally
managed and advised by AG REIT Management, LLC, a subsidiary of
Angelo, Gordon & Co., L.P., a diversified credit and real
estate investing platform within TPG.
Additional information can be found on the Company’s website at
www.agmit.com.
About TPG Angelo Gordon
Founded in 1988, Angelo, Gordon & Co., L.P. (“TPG Angelo
Gordon”) is a diversified credit and real estate investing platform
within TPG. The platform currently manages approximately $80
billion across a broad range of credit and real estate strategies.
For more information, visit www.angelogordon.com.
Forward-Looking Statements
This press release contains certain “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. The Company intends such statements to be covered by the
safe harbor provisions for forward-looking statements contained in
the Private Securities Litigation Reform Act of 1995 and includes
this statement for purposes of complying with the safe harbor
provisions. Words such as “expects,” “anticipates,” “intends,”
“plans,” “believes,” “seeks,” “estimates,” “will,” “should,” “may,”
“projects,” “could,” “estimates” or variations of such words and
other similar expressions are intended to identify such
forward-looking statements, which generally are not historical in
nature, but not all forward-looking statements include such
identifying words. Forward-looking statements regarding the Company
include, but are not limited to, statements regarding the Company’s
ability to execute its strategy, including to further optimize its
capital structure and scale to drive long-term shareholder value,
the amount and timing of dividends, including the Company’s ability
to steadily increase its dividend to align with long-term earnings
growth or at all, and the sustainability and continuing strength of
the Company’s earnings power. These forward-looking statements are
subject to various risks and uncertainties. Accordingly, there are
or will be important factors that could cause actual outcomes or
results to differ materially from those indicated in these
statements. The Company believes these factors include, without
limitation, the risk factors contained in the Company’s filings
with the Securities and Exchange Commission (“SEC”), including
those described under the headings “Forward-Looking Statements” and
“Risk Factors” in the Company’s Annual Report on Form 10-K for the
fiscal year ended December 31, 2023 and in other reports and
documents filed by the Company with the SEC from time to time.
Moreover, other risks and uncertainties of which the Company is not
currently aware may also affect the Company’s forward-looking
statements and may cause actual results and the timing of events to
differ materially from those anticipated. The forward-looking
statements made in this press release are made only as of the date
of this press release or as of the dates indicated in the
forward-looking statements, even if they are subsequently made
available by the Company on its website or otherwise. The Company
undertakes no obligation to update or supplement any
forward-looking statements to reflect actual results, new
information, future events, changes in its expectations or other
circumstances that exist after the date as of which the
forward-looking statements were made, except as required by
law.
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Investors AG Mortgage Investment Trust, Inc. Investor
Relations (212) 692-2110 ir@agmit.com
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