Granite Point Mortgage Trust Inc. announced a quarterly cash dividend of $0.05 per share of common stock for the first quarter of 2025, payable on April 15, 2025. The company also declared a quarterly cash dividend of $0.4375 per share for its 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, also payable on April 15, 2025.
During the first quarter, Granite Point repurchased 0.8 million shares of its common stock, indicating continued deployment of capital into its own securities at what management considers a compelling valuation. This action aims to support long-term shareholder value.
The company reported ongoing progress in its nonaccrual loan resolutions, with two such loans recently resolved and others well underway. These efforts are intended to position the company for long-term success by de-risking its portfolio.
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