GPMT - 12% Dividend Yield Sure Beats 8%
2024-06-20 23:35:20 ET
Summary
- Management tried to keep the dividend down.
- They have the cash to pay out. These shares ranked ahead of the common shares.
- We’ve invested in these shares before. Now we’re doing it again. Except this time, we're putting even more money in.
- We previously argued that management was violating the LIBOR Act. Now a batch of lawyers is echoing that claim.
- Enjoy all our usual charts.
If you clicked the title, you’re probably into high-dividend stocks. Alternatively, you may just enjoy my snarking writing. Either way, thank you for joining me.
If you didn’t click the title, I have no idea how you got here.
The first thing I want to talk about today is PMT-A and PMT-B. These two preferred shares from PennyMac Mortgage Trust (PMT) have been the center of controversy for nearly 10 months.
I’m sharing an article we wrote for subscribers here. I made a few slight edits to replace paywalled links with free links (to articles published later)....
12% Dividend Yield Sure Beats 8%