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Two Harbors Investment Corp., 7.25% Series C Fix/Float Cumul Red Preferred Stk
Ticker Symbol: TWO-C CUSIP: 90187B507 Exchange: NYSE
QUANTUMONLINE.COM SECURITY DESCRIPTION: Two Harbors Investment Corp., 7.25% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 1/27/2025 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions at a fixed rate equal to 7.25% per annum ($1.8125 per annum or $0.453125 per quarter) will be paid quarterly on 1/27, 4/27, 7/27 & 10/27 to holders of record on the record date fixed by the board, not more than 35 days or less than 10 days prior to the payment date and from and including 1/27/2025, at a floating rate equal to three-month LIBOR plus a spread of 5.011% per annum. (NOTE: the ex-dividend date is at least one business day prior to the record date). Upon the occurrence of a change of control the company will have the option within 120 days to redeem the preferred shares at $25 per share plus accrued and unpaid dividends. If the company has exercised their redemption right, the holders will NOT have the following conversion right. Upon the occurrence of a change of control, and the company has NOT provided notice that they intend to redeem the preferred shares, the holder will have the right to convert the preferred shares into common shares under certain circumstances (see the prospectus for details). Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (TWO)
IPO - 11/16/2017 - 11.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: TWWHP Changed: 11/28/2017
Market Value $275.0 Million
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 1601 Utica Avenue South, Suite 900 , St. Louis Park, MN |
Main Phone Number |
612-453-4100 |
Fax Number |
612-629-2501 |
Investor Relations
Margaret Karr
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212-364-3663
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Toll Free Phone Number |
Unknown |
CEO - William Greenberg |
CFO - Mary Riskey |
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