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What will happen to the stock price of Two Harbors common stock as a result of the Stock Dividend?

Q:

What will happen to the stock price of Two Harbors common stock as a result of the Stock Dividend?

A:

The exact effect of the Stock Dividend on Two Harbors common stock will ultimately depend on market conditions, the market capitalization of Two Harbors on the November 1, 2017  Dividend Date and other factors.  Similar to when a stock trades ex-dividend with respect to a cash dividend, the Stock Dividend is expected to reduce the stock price of Two Harbors common stock, reflecting the full separation of Granite Point from Two Harbors as the last step in the spin-off transaction.

Following the Stock Dividend, on the evening of November 1, 2017 the stock price of Two Harbors common stock will also be impacted by the one-for-two Reverse Stock Split. See the question titled “What happens to my Two Harbors common stock as a result of the Reverse Stock Split?”