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Quarterly Highlights

Third Quarter 2017
Generated Quarterly Return on Book Value of 4.6%(1)
Delivered 2017 Total Stockholder Return of 25%(2)

Summary

  • Reported book value of $20.12 per common share, representing a 4.6%(1) total quarterly return on book value after accounting for a dividend of $0.52 per common share.
  • Delivered Comprehensive Income of $161.6 million, a return on average common equity of 18.5%, or $0.93 per weighted average basic common share.
  • Issued 11,500,000 shares of 7.625% Series B fixed-to-floating rate cumulative redeemable preferred stock for proceeds, net of offering costs, of $278.1 million.
  • Subsequent to quarter end, on November 1, 2017, distributed approximately 33.1 million shares of common stock of Granite Point Mortgage Trust Inc. (“Granite Point”) (NYSE: GPMT) to Two Harbors’ common stockholders and concurrently effected a one-for-two reverse stock split.

“Our strong performance this quarter again demonstrates the benefit of our hybrid model and the execution on our previously articulated plan for 2017,” stated Thomas Siering, Two Harbors’ President and Chief Executive Officer. “Over the past year, our plan has manifested itself through Core Earnings growth, book value stability and three dividend increases. Our stock price has reacted favorably to this, and we are pleased to have delivered a total stockholder return of 25% through September 30, 2017. Going forward, we believe there is a tremendous amount of opportunity for our company to continue to drive stockholder returns.”

(1) Return on book value for the quarter ended September 30, 2017 is defined as the increase in book value per common share from June 30, 2017 to September 30, 2017 of $0.38, plus the dividend declared of $0.52 per common share, divided by June 30, 2017 book value of $19.74 per common share.
(2) Two Harbors’ total stockholder return is calculated for the period December 31, 2016 through September 30, 2017. Total stockholder return is defined as stock price appreciation including dividends. Source: Bloomberg.
 

Common Stock Dividend

Declaredsort icon Ex-date Record Payable Total Distribution
3/12/10
3/29/10
3/31/10
4/23/10
0.72

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