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should be around the end of this month
It just moved higher. I expect more but am content for now.
Will the dividend rise above $.50 anytime soon and if so, what will the pps then be?
Also nice to see the quarterly distribution rise to fifty cents.
lookin good today...a nice quarterly profit and nice move up in pps
With just 1,000 shares in hand, this thing continues to reward so beautifully! Woke up this morning to a cash infusion of $480---happens every quarter like clockwork. No muss, no fuss...it magically appears.
On any dip I've got to think in terms of adding to this cash cow, or else I'm a fool for ignoring a trader's greatest blessing:
This is as close to a guaranteed meal as one can find. No looking over the shoulder in fear, just let your money work for you and the REIT's management team will do their best to keep the bountiful stream flowing.
We're doing just great, wouldn't you agree? Despite all the market turbulence we're managing well. However, I'm largely dismissing today's rise as I suspect it's tied in with our going ex-distribution fairly soon.
Then again, that hardly diminishes the overall investible value (promise) within. On sum, then, what we have here is a stock worthy of an investor's consideration.
Sounds just perfect.
not sitting on freebies yet...but soon...I think another few years of divs and I will be. my DCA after subtracting the divs is just over 4 bucks now. But...I put that money right back in div stocks so I'm quite happy with the results thus far.
Wow! You've done spectacularly! Great to hear, really. Backing out distributions and that special 50 cent rebalancer we got not long ago and I'll bet you're running on free units, right?
yuppers...I really like this play. been in it for years and got lucky and bought quite a nice chunk back when they were having all the SEC filing issues....down in the 2 buck range if I remember right. Been quite a nice div generator for us.
CIM has certainly been a fine holding for us! Pays nearly a half dollar every quarter for a long time running.
Here is the article...pay date will be March 31 with an ex div date of March 15.
NEW YORK--(BUSINESS WIRE)--Chimera Investment Corporation (NYSE:CIM) today announced that the Board of Directors declared a special common stock dividend of $0.50 per share. The special dividend is payable on March 31, 2016 to stockholders of record on March 17, 2016. The ex-dividend date is March 15, 2016.
“With the conclusion of our Board’s investigation and the recovery of these amounts, we can now put these issues behind us, which is in the best interest of our stockholders.”
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As disclosed in our most recent Annual Report on Form 10-K, the Audit Committee pursued remedies against other parties regarding the facts and circumstances relating to our accounting for Non-Agency RMBS and the restatement of our financial statements. The Audit Committee and our Board of Directors determined that it was in the best interest of our stockholders to resolve these matters for $95 million, which will be characterized as taxable income in 2016 and is the basis for this special dividend. Matthew Lambiase, our CEO and President, noted that “With the conclusion of our Board’s investigation and the recovery of these amounts, we can now put these issues behind us, which is in the best interest of our stockholders.”
Surprised nobody's seen fit to post this but here it is:
CIM will be paying us 50 cents per share around the middle of the month. It's hyped as a special dividend but in reality it represents the result of looking into the books and finding it to be the best way to neutralize differences of opinion.
I've got a thousand shares so it's $500 to me.
I like it when I prosper, hope you folks do as well. And when YOU prosper, too. lol
Of course, we always seek to maximize the buy side. At the same time, it can take precedence and nobody will convince me that it's the only way to go about investing. So I average...
By that, I mean I try to apply a cross-sectional view towards my adds (accumulation broken down into individual transactions). And in the end, each completed buy order goes through the brokerage's milling machine only to spit up my cost basis reflecting it all.
Say I have 500 shares of CIM at a CB of $14. I add more and then more again at prices beneath the original $14, bringing my CVB down to $8 or $10 or whatever. Viewed through the peephole established by my original purchase I've done well, right? But hold on---if viewed on the averaged (revised) cost basis, my overall basis may be down to $11. What makes that good?
I can look at that now and say it's good because it reflects a gain/share. Or it may be the other way around and not represent a gain. However.............
I didn't buy it thinking I was going to gain on the appreciation side. No, I wanted income. So I toss aside any and all considerations about appreciation and focus only on the dividends and their sustainability. And thus I'm free of concern if the price drops.
There are many opportunities out there for us to capitalize on appreciation gains. I don't see CIM as one of them. But if you do, then I'd like to hear more about it from you.
I know what your saying Jugs, just hate to be upside down, wanting to add some more, just looking to maximize the buy and wonder how low this can go on a massive market selloff which appears to be imminent.
Mr. The Saint:
As you can see, there's nothing to alarmed about. We're now sitting at $12 which is just fine for now, isn't it?
The trick for me is to distance myself from stuff that resembles media hype or propaganda. That's how I protect myself from worries. I just want the steady paycheck every quarter and prefer to leave the worrying to others who, unfortunately, seem to get stuck in it.
You don't have to find yourself stuck in a wall of worry, right?
Of course not!
Enjoy the moment, I always say, as it may be our last.
Yes! Market swoons come and go when terrorism threatens, oil drops OR RISES- what the hell does this have to do with CIM?
I never listen to the media hype. It's designed with me in mind but as a sucker and not a successful investor.
My advice: Keep on accepting those quarterly checks! Our company's fortune isn't based on whimsy. It's all about longer term contracts. I'm good with the model and results.
Looks like 10s coming again, maybe 9s thoughts??
This is a market blow-off. I don't ever take these things seriously. The field is leveling out somewhat, nothing more. More typical trading patterns will surface soon enough. Right now, people are struggling to understand how to operate in an environment being affected by energy oversupply, constant reminders of advancing political changes in store for the American electorate, an emerging Iran onto center stage---destined to take the reins of the planet's 11th largest economy, China's inconsistent advances on a global commercial scale. And then there's the obvious concern for terrorist activity...I am convinced there will soon be another 9/11 sort of debacle. It's been awhile since the Paris bombings and others will surface, it's just a matter of time.
This is the time to try hard to relax and comb the market for opportunities to take advantage of your stock pick hit-list. I'm considering selling some things in order to come up with the cash to purchase other picks presenting even better profitability potentials. This forces me to churn through my holdings, strengthening my portfolios and me, too.
Better to face our fears than to run, scared.
I wish you the best of good fortune!
Dang 10s now wtf??
Sure---I'd be a buyer! No question here. It's been a steady payer for me, hassle free in that market gyrations mean nothing on payday. Plenty of visibility and everything appears to be kosher without the usual drama associated with many other companies.
It's not an especially exciting stock but I'm mostly an energy player and have plenty of other options when it comes to enjoying the "waves." Still, my tiny position of 1,000 shares pays me $480 every quarter and I'm delighted with that.
Hit new low today, looks like 12s may be in sight, anyone have any ideas ?
Wow. That was a dump!
What I meant was the price dropped more than the scheduled dividend, they did not change the dividend, sorry for the counfusion.
I find nothing about a div drop...link please
Some good reading here!
Thank you.
Chimera Investment misses by $0.05, misses on net interest income
Nov 3 2015, 16:51 ET | About: Chimera Investment Corpo... (CIM) | By: Gaurav Batavia, SA News Editor
Chimera Investment (NYSE:CIM): Q3 EPS of $0.50 misses by $0.05.
Net interest income of $143.97M (-5.0% Y/Y) misses by $23.58M.
Press Release
seekingalpha.com/news/2890516-chimera-investment-misses-by-0_05-misses-on-net-interest-income?uprof=45#email_link
CHIMERA INVESTMENT CORPORATION RELEASES 3RD QUARTER 2015 EARNINGS
Tue November 3, 2015 4:45 PM|Business Wire | About: CIM
• CORE EARNINGS OF $98 MILLION OR $0.50 PER SHARE
• PURCHASED 16.6 MILLION OR 8% OF CHIMERAS OUTSTANDING SHARES FOR $231 MILLION OR $13.94 PER SHARE; A 17% DISCOUNT FROM Q2 2015 ENDING GAAP BOOK VALUE PER SHARE
• BECAME A MEMBER OF THE FEDERAL HOME LOAN BANK OF DES MOINES THROUGH WHOLLY-OWNED INSURANCE COMPANY
• GAAP BOOK VALUE OF $16.38 PER SHARE
• GAAP NET LOSS OF $48 MILLION OR $0.24 PER SHARE
NEW YORK--(BUSINESS WIRE)-- "Chimera had a number of positive advances in the third quarter. We made significant progress in our transition to a fully independent, internally managed mortgage REIT, repurchased $231 million of our stock and became a member of the Federal Home Loan Bank System. Chimera has also taken a number of steps to position our portfolio and balance sheet in light of the continuing volatility in the fixed income market. This includes lowering our interest rate risk by reducing our Agency portfolio by $2 billion earlier this year, increasing the notional balances of our interest rate swaps and extending the term of our non-agency financing. Given the current uncertainty around interest rates, we believe defending book value in the near term while creating an investor friendly operating structure will be the right path to maximizing value for our shareholders over the long term."
3rd Quarter 2015 Financial Results and Highlights
• Core earnings(1) of $0.50 per share down, from $0.53 earned in the 2nd quarter of 2015 and $0.56 earned in the 3rd quarter of 2014. Core earnings for the third quarter were based on 198 million average shares outstanding for the quarter compared to 189 million shares currently outstanding.
• Net interest income of $144 million, down from $150 million in the 2nd quarter of 2015 and $151 million in the 3rd quarter of 2014
• GAAP book value of $16.38 per share, down from $16.73 per share for the 2nd quarter of 2015 and down from $17.50 per share in the 3rd quarter of 2014
• Economic book value of $15.28 per share, down from $15.54 per share for the 2nd quarter of 2015 and $15.75 for the 3rd quarter of 2014
• Purchased 8% of Chimeras outstanding shares during the quarter which is expected to be beneficial to Chimeras shareholders in future quarters. • Purchased all shares held by Annaly, 4.4% of outstanding, for $14.05 per share.
• Open market purchases were executed at $13.81 per share for an average of $13.94 per share on all purchases.
• Exercised call right on Springleaf 2012-2 trust and securitized related mortgage loans in a new CIM 2015-3AG trust reducing financing costs from 4.1% to 2.2%. Incurred $2.4m of non-recurring deal expenses during the third quarter in relation to this transaction.
(1) Core earnings is a non-GAAP measure and is defined as GAAP net income (loss) excluding unrealized gains on the aggregate portfolio, impairment losses, realized gains on sales of investments, gain on deconsolidation, extinguishment of debt and certain other non-recurring gains or losses. Core earnings includes interest income and expense as well as realized gains or losses on derivatives used to hedge interest rate risk, including $9m of realized losses on treasury futures during the 3rd quarter of 2015. Core earnings is provided for purposes of comparability to other peer issuers, but has important limitations. Therefore, core earnings should not be viewed in isolation and is not a substitute for net income or net income per basic share computed in accordance with GAAP.
Gross asset yields were 8.3% on the residential mortgage credit portfolio and 2.8% on the Agency MBS portfolio. The net interest spread on the total portfolio was 3.4% and net interest margin was 4.0% reflecting total leverage of 3.8:1 and recourse at risk leverage of 2.5:1 at September 30, 2015.
The Company declared a common stock dividend of $0.48 per share for the quarter ended September 30, 2015. The annualized dividend yield on the Companys common stock for the quarter ended September 30, 2015 was 14%.
Other Information
Chimera Investment Corporation (CIM) invests in residential mortgage loans, residential mortgage-backed securities, real estate-related securities and various other asset classes. The Companys principal business objective is to generate income from the spread between yields on its investments and its cost of borrowing and hedging activities. The Company is a Maryland corporation that has elected to be taxed as a real estate investment trust (REIT).
Please visit www.chimerareit.com and click on Investor Relations for additional information about the Company.
More...
http://seekingalpha.com/pr/15223876-chimera-investment-corporation-releases-3rd-quarter-2015-earnings
Thank you for posting!
Chimera Investment declares $0.48 dividend
Sep 14 2015, 06:10 ET | About: Chimera Investment Cor... (CIM)
Chimera Investment (NYSE:CIM) declares $0.48/share quarterly dividend, in line with previous.
Forward yield 13.88%
Payable Oct. 30; for shareholders of record Sept. 30; ex-div Sept. 28.
http://seekingalpha.com/news/2775916-chimera-investment-declares-0_48-dividend?uprof=45#email_link
Chimera Investment misses by $0.07, misses on revenue
Aug 5 2015, 16:48 ET | About: Chimera Investment Corpo... (CIM) | By: Gaurav Batavia, SA News Editor
Chimera Investment (NYSE:CIM): Q2 EPS of $0.53 misses by $0.07.
Revenue of $149.76M (+31.8% Y/Y) misses by $18.61M.
Press Release
http://seekingalpha.com/news/2699155-chimera-investment-misses-by-0_07-misses-on-revenue?uprof=45#email_link
Chimera Investment Corporation Announces Internalization of Management, $250 Million Stock Buy-Back Plan Including Immediate Repurchase of Shares from Annaly and Releases 2nd Quarter 2015 Earnings
Wed August 5, 2015 4:17 PM|Business Wire | About: CIM
• Net Income of $116 Million or $0.57 Per Share
• Core Earnings of $109 Million or $0.53 Per Share
• GAAP Book Value of $16.73 Per Share
NEW YORK--(BUSINESS WIRE)-- Chimera Investment Corporation (CIM) (Chimera or the Company) and Annaly Capital Management, Inc. (Annaly) jointly announced that, effective today, Chimera is internalizing its management function. The independent directors on Chimeras Board agreed to the internalization with Annaly in order to accelerate growth and realize cost efficiencies. Chimera will continue to be led by its key professionals including President and Chief Executive Officer Matthew Lambiase, Chief Financial Officer Rob Colligan and Chief Investment Officer Mohit Marria. In addition, Chimeras head of structured products, Choudhary Yarlagadda, was appointed Chief Operating Officer and Phillip J. Kardis II, a partner at the law firm K&L Gates LLP, was appointed General Counsel. All other personnel that focus their efforts on Chimeras business became employees of Chimera.
This transaction is an exciting new chapter in the growth of Chimera, said Matt Lambiase, Chimeras President and Chief Executive Officer. Chimera is strongly positioned to take advantage of the market opportunities in the residential mortgage credit space and the internalization represents an opportune time to transition to a standalone infrastructure company as the portfolio continues to grow. The internalization will ensure continuity of the leadership team while enhancing the Companys ability to drive shareholder value through a lower cost base, simplified structure and more focused strategy.
In connection with the internalization, Chimera entered into a transition services agreement with its external manager, Fixed Income Discount Advisory Company (FIDAC), a wholly owned subsidiary of Annaly. Under the transition services agreement, FIDAC will continue to provide the Company with certain transition services related to business support through the end of the year. No termination fee was paid by Chimera in connection with internalization.
As part of the agreement, Chimera will purchase Annalys 4.4% stake in Chimera for a purchase price of $126.4 million ($14.05 per share) as part of a new $250 million share repurchase program authorized by the Chimera Board. Purchases made pursuant to the program will be made in either the open market or in privately negotiated transactions from time to time as permitted by securities laws and other legal requirements. The timing, manner, price and amount of any repurchases will be determined by the Company in its discretion and will be subject to economic and market conditions, stock price, applicable legal requirements and other factors. The authorization does not obligate the Company to acquire any particular amount of common shares and the program may be suspended or discontinued at the Companys discretion without prior notice
More...
http://seekingalpha.com/pr/14325425-chimera-investment-corporation-announces-internalization-of-management-250-million-stock-buy-back-plan-including-immediate-repurchase-of-shares-from-annaly-and-releases-2nd-quarter-2015-earnings
The Board of Directors also announced that it expects to maintain a minimum quarterly dividend of $0.48 for the third and fourth quarters of 2015.
http://finance.yahoo.com/news/declares-second-quarter-2015-common-200500596.html
Chimera Investment declares $0.48 dividend
Jun 11 2015, 16:17 ET | About: Chimera Investment Cor... (CIM)
Chimera Investment (NYSE:CIM) declares $0.48/share quarterly dividend, in line with previous.
Forward yield 13.42%
Payable July 30; for shareholders of record June 30; ex-div June 26.
http://seekingalpha.com/news/2576295-chimera-investment-declares-0_48-dividend?uprof=45#email_link
Chimera Investment misses by $0.01, beats on revenue
May 11 2015, 16:28 ET | About: Chimera Investment Corpo... (CIM) | By: Gaurav Batavia, SA News Editor
Chimera Investment (NYSE:CIM): Q1 EPS of $0.59 misses by $0.01.
Net interest income of $182.69M (+86.0% Y/Y) beats by $19.42M.
Press Release
http://seekingalpha.com/news/2512786-chimera-investment-misses-by-0_01-beats-on-revenue?auth_param=ano5b:1al247k:f445da627a5582b9cbe55312d5ec0da6&uprof=45#email_link
Chimera Investment Corporation Reports Net Income of $67 Million or $0.33 Per Share, Core Earnings of $120 Million or $0.59 Per Share and GAAP Book Value of $17.14 Per Share for the First Quarter of 2015
Mon May 11, 2015 4:05 PM|Business Wire | About: CIM
NEW YORK--(BUSINESS WIRE)-- Chimera Investment Corporation (CIM) today announced its financial results for the first quarter of 2015 as follows:
1st Quarter 2015 Financial Highlights
• Average earning assets grew to $15.2 billion for the quarter ended March 31, 2015 from $10.0 billion in average assets for the year ended December 31, 2014 based on amortized cost
• Net income of $67 million, up from $6 million earned in the 4th quarter of 2014
• Core earnings of $0.59 per share consistent with the 4th quarter of 2014(1)
• Net interest income of $183 million, up from $177 million in the 4th quarter of 2014
• GAAP book value of $17.14 per share, down from $17.55 per share for the 4th quarter of 2014
• Economic book value of $15.70 per share, down from $15.90 per share for the 4th quarter of 2014
The Company declared a common stock dividend of $0.48 per share for the quarter ended March 31, 2015. The annualized dividend yield on the Companys common stock for the quarter ended March 31, 2015 was 12%.
Leverage was 3.7:1 and recourse leverage was 2.6:1 at March 31, 2015.
More...
http://seekingalpha.com/pr/13466646-chimera-investment-corporation-reports-net-income-of-67-million-or-0_33-per-share-core-earnings-of-120-million-or-0_59-per-share-and-gaap-book-value-of-17_14-per-share-for-the-first-quarter-of-2015
Most investors, for various reasons, associate higher stock price with quality. There's been a trend to higher priced stocks in recent years, with quite a few issues trading at several hundred dollars per share. Forward splits have become less common.
Personally I assume that anything under $10 is questionable... a red flag; no doubt others do too. Under $5 is out of the question for me.
Note that most IPOs are priced from $10-$20. Wall Street probably figures that's the sweet spot for IPO "players." For older, more experienced, conservative investors the sweet spot is surely higher than that range.
It's would be pretty sad if CIM were worried about falling under a buck, the NYSE minimum.
Decent quarter though, Mreits are in a tough spot generally. Perhaps they were worried that the share price would fall too close to the 1.00 mark?
Reverse/split probably had more to do with disguising the poor long term record, although CIM has done better than many. The mREIT sector's having another terrible period. High yield stocks are generally terrible bets.
" I still don't understand the reverse split, unless it had to do with potential de-listing issues."
I hope that is it......??
14.98 wheres the bottom??
Would have to presume interest rate volatility, and anticipation of tightening monetary policy, no? I still don't understand the reverse split, unless it had to do with potential de-listing issues.
Appears to be sector wide
Looks like this thing is in freefall..??
Taking CYS and AGNC's earnings reports into account, it honestly does not look too good for the MREIT sector as a whole.
Closing price April 6, 2015 $15.85
April 7, 2015. $15.88
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Webcast Chimera Investment Corporation Q3 2011 Earnings Conference Call Monday, November 21, 2011 10:00 AM ET |
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