NYMTL - My 2 Largest High Dividend Yields

• NRZ-D offers investors a very reasonable yield today with a solid floating spread after the rate resets in late 2026.
• We see NRZ-D being a more appealing share than the other preferred shares from NRZ, but the difference is pretty small.
• CIM-A is our other largest position. We expect shares to get called in the near future, but it can still be a useful place to park some cash.
• If shares of CIM-A are not called promptly, the quick dividend accrual at an 8% rate would be a nice benefit for investors.
• We don’t plan to cover CMO after the merger. We find it interesting that TWO has a higher projected price-to-book than NRZ or PMT.

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