Chimera Investment Corporation (NYSE:CIM) Declares Dividend Increase – $0.45 Per Share

Chimera Investment Corporation (NYSE:CIM) declared a quarterly dividend on Wednesday, February 11th. Stockholders of record on Tuesday, March 31st will be paid a dividend of 0.45 per share by the real estate investment trust on Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 13.7%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a 21.6% increase from Chimera Investment’s previous quarterly dividend of $0.37.

Chimera Investment has decreased its dividend by an average of 0.3%annually over the last three years and has increased its dividend every year for the last 1 years. Chimera Investment has a payout ratio of 77.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Chimera Investment Stock Performance

CIM stock traded up $0.80 during midday trading on Wednesday, reaching $13.10. The company had a trading volume of 2,067,754 shares, compared to its average volume of 863,037. The firm has a market capitalization of $1.09 billion, a PE ratio of -32.74 and a beta of 1.84. The stock has a 50 day moving average price of $12.78 and a 200 day moving average price of $13.10. The company has a quick ratio of 8.22, a current ratio of 8.22 and a debt-to-equity ratio of 4.75. Chimera Investment has a fifty-two week low of $9.85 and a fifty-two week high of $14.88.

Chimera Investment (NYSE:CIM) last released its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. Chimera Investment had a return on equity of 7.36% and a net margin of 4.27%.The company had revenue of $72.01 million for the quarter, compared to analysts’ expectations of $80.77 million. Analysts anticipate that Chimera Investment will post 1.57 earnings per share for the current year.

About Chimera Investment

Chimera Investment Corporation (NYSE: CIM) is a publicly traded real estate investment trust that specializes in investing in residential mortgage assets. The company’s portfolio primarily consists of agency and non-agency residential mortgage-backed securities, whole loan residential mortgages and other mortgage-related assets. As a REIT, Chimera Investment aims to generate attractive risk-adjusted returns through its focus on high-quality collateral and disciplined risk management.

The firm’s core business activities include identifying and acquiring portfolios of residential mortgage loans and securities from financial institutions and in the secondary market.