Two Harbors Investment Corp (TWO)

[kentonmag1]

TWO dividend dropped to 32 cents per share yesterday paid to holders as of 2nd April.
Also special dividend with distribution of SBY shares to all TWO shareholders. TWO will divest themselves of 17,824,647 shares in SBY to all their shareholders. The number of TWO shares currently stands at 300,722,420 so by dividing the number of TWO shares into the SBY shares each TWO share will get .05927 shares in SBY. If you own 1,000 shares in TWO you will get 59 shares in SBY (current share price $19.27) as it will be rounded down to the nearest full share. This means the value of this special dividend on 1,000 TWO shares is $1,136.93 at todays SBY price or $1.13693 per TWO share.
Add the 32 cents regular dividend and the distibution for this quarter is $1.45 per share.
TWO also announced another 50,000,000 share brokered fianancing deal, this will have a negative effect on the dividend per share yields in the future.