ATLANTA, Dec. 19,
2023 /PRNewswire/ -- Invesco Mortgage Capital Inc.
(the "Company") (NYSE: IVR) today announced that its Board of
Directors declared a cash dividend of $0.40 per share of common stock for the fourth
quarter of 2023 on December 18, 2023.
The dividend will be paid on January 26,
2024 to stockholders of record on December 29, 2023, with an ex-dividend date of
December 28, 2023.
Book Value and Portfolio Update as of December 15, 2023
- Book value per common share is estimated to be in the range of
$9.82 to $10.22(1)
- Total investment portfolio of $5.0
billion, substantially all of which is Agency residential
mortgage-backed securities
- Unrestricted cash and unencumbered investments totaling
approximately $344 million
- Debt-to-equity ratio is estimated to be in the range of 5.6x to
5.8x
(1) Book value per common share as of December 15, 2023 is adjusted to exclude a pro
rata portion of the current quarter's common stock dividend (which
for purposes of this calculation is assumed to be the same as the
previous quarter) and is calculated as total stockholders' equity
less the liquidation preference of the Company's Series B Preferred
Stock and Series C Preferred Stock ($109.7
million and $188.7 million,
respectively), divided by total common shares outstanding of 48.5
million.
The preliminary financial information set forth above reflects
the Company's estimates with respect to such information, based on
information currently available to management, and may vary from
the Company's actual financial results as of and for the periods
noted above. Further, these estimates are not a comprehensive
statement or estimate of the Company's financial results or
financial condition. These estimates should not be viewed as a
substitute for financial statements prepared in accordance with
U.S. GAAP, and they are not necessarily indicative of the results
to be achieved in any future period. Accordingly, a reader should
not place undue reliance on these estimates.
These estimates, which are the responsibility of the Company's
management, were prepared by the Company's management and are based
upon a number of assumptions. Additional items that may require
adjustments to these estimates may be identified and could result
in material changes to these estimates. These estimates are
inherently uncertain and the Company undertakes no obligation to
update this information. The preliminary financial data included in
this press release has been prepared by, and is the responsibility
of, the Company's management. PricewaterhouseCoopers LLP has not
audited, reviewed, examined, compiled nor applied agreed-upon
procedures with respect to the preliminary financial data.
Accordingly, PricewaterhouseCoopers LLP does not express an opinion
or any other form of assurance with respect thereto.
About Invesco Mortgage Capital Inc.
Invesco Mortgage Capital Inc. is a real estate investment trust
that primarily focuses on investing in, financing and managing
mortgage-backed securities and other mortgage-related assets.
Invesco Mortgage Capital Inc. is externally managed and advised by
Invesco Advisers, Inc., a subsidiary of Invesco Ltd. (NYSE: IVZ), a
leading independent global investment management firm. Additional
information is available at www.invescomortgagecapital.com.
Cautionary Notice Regarding Forward-Looking
Statements
This press release may include statements and information that
constitute "forward-looking statements" within the meaning of the
U.S. securities laws as defined in the Private Securities
Litigation Reform Act of 1995, as amended, and such statements are
intended to be covered by the safe harbor provided by the same.
Forward-looking statements are subject to substantial risks and
uncertainties, many of which are difficult to predict and are
generally beyond the Company's control. These forward-looking
statements include those related to our intention and ability to
pay dividends and estimated book value per share, as well as any
other statements other than statements of historical fact. The
words "believe," "expect," "anticipate," "estimate," "plan,"
"continue," "intend," "should," "may," or similar expressions and
future or conditional verbs such as "will," "may," "could,"
"should," and "would," and any other statement that necessarily
depends on future events, are intended to identify forward-looking
statements.
Any forward-looking statement speaks only as of the date on
which it is made. New risks and uncertainties arise over time, and
it is not possible to predict those events or how they may affect
the Company. Except as required by law, the Company is not
obligated to, and does not intend to, update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Investor Relations Contact: Greg
Seals, 404-439-3323
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SOURCE Invesco Mortgage Capital Inc.