PennyMac Mortgage Investment Trust reports Q3 loss, cuts Q4 dividend and expands share buyback
+1 new source since this summary was written
PennyMac Mortgage Investment Trust posted a third‑quarter net loss of $36 million, or $0.41 per share, while adjusted earnings were $30 million, or $0.35 per share. Book value fell to $14.03 per share, a 5% drop from the prior quarter, and the quarterly dividend of $0.40 per share will be reduced for the fourth quarter. The board also approved an additional $130 million for share repurchases, raising total authorization to more than $200 million. President Doug Jones announced his retirement after 15 years of service.
Why it matters
The loss and dividend reduction may weigh on the stock, while the larger buyback program could provide price support, according to the company’s announcement.
Key facts
- 1Net loss attributable to common shareholders was $36 million, or $0.41 per share. finance.yahoo.com
- 2Adjusted net income was $30 million, or $0.35 per share. finance.yahoo.com
- 3Book value per share was $14.03, a 5% decline from the previous quarter. finance.yahoo.com
- 4Quarterly dividend paid was $0.40 per share. finance.yahoo.com
- 5Share repurchase authorization was increased by $130 million, bringing total capacity to over $200 million. finance.yahoo.com
- 6The fourth‑quarter dividend is expected to be reduced. finance.yahoo.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.