Addressing Performance Concerns: Granite Point Mortgage Manages Decreased Earnings and Adjusts Dividends
As the day concludes, Granite Point Mortgage (NYSE:GPMT) is preparing to distribute a dividend payout of $0.20 per share, resulting in an annualized dividend yield of 13.79%. This payout is exclusive to investors who held the stock before the ex-dividend date on December 28, 2023.
Granite Point Mortgage Recent Dividend Payouts
| Ex-Date | Payments per year | Dividend | Yield | Announced | Record | Payable |
|---|---|---|---|---|---|---|
| 2023-12-28 | 4 | $0.2 | 13.79% | 2023-12-19 | 2023-12-29 | 2024-01-16 |
| 2023-09-29 | 4 | $0.2 | 15.01% | 2023-09-20 | 2023-10-02 | 2023-10-16 |
| 2023-06-30 | 4 | $0.2 | 15.09% | 2023-06-22 | 2023-07-03 | 2023-07-17 |
| 2023-03-31 | 4 | $0.2 | 15.87% | 2023-03-16 | 2023-04-03 | 2023-04-17 |
| 2022-12-29 | 4 | $0.2 | 13.18% | 2022-12-20 | 2022-12-30 | 2023-01-17 |
| 2022-09-30 | 4 | $0.25 | 11.4% | 2022-09-20 | 2022-10-03 | 2022-10-17 |
| 2022-06-30 | 4 | $0.25 | 10.59% | 2022-06-16 | 2022-07-01 | 2022-07-15 |
| 2022-03-31 | 4 | $0.25 | 9.09% | 2022-03-17 | 2022-04-01 | 2022-04-15 |
| 2021-12-30 | 4 | $0.25 | 8.64% | 2021-12-16 | 2021-12-31 | 2022-01-18 |
| 2021-09-30 | 4 | $0.25 | 7.56% | 2021-09-15 | 2021-10-01 | 2021-10-19 |
| 2021-06-30 | 4 | $0.25 | 6.6% | 2021-06-15 | 2021-07-01 | 2021-07-19 |
| 2021-03-31 | 4 | $0.25 | 8.16% | 2021-03-18 | 2021-04-01 | 2021-04-19 |
In terms of dividend yield, Granite Point Mortgage finds itself in the middle ground among its industry peers, while Invesco Mortgage Capital (NYSE:IVR) takes the lead with the highest annualized dividend yield at 17.45%.
Analyzing Granite Point Mortgage Financial Health
Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing.
YoY Growth in Dividend Per Share
The company experienced a decrease in dividend per share from 2021 to 2023, with the dividend per share decreasing from $1.00 to $0.80. This decline in dividends is concerning for investors and demands further analysis to determine the contributing factors.
YoY Earnings Growth For Granite Point Mortgage
The earnings chart highlights a decrease in Granite Point Mortgage's earnings per share, declining from $1.18 in 2021 to $0.42 in 2023. This decline in earnings raises a red flag for income-seeking investors, as it suggests a potential decrease in the company's ability to generate cash for dividend payouts. It is essential to closely examine the factors behind this decrease and assess the long-term impact on dividend sustainability.
Recap
This article delves into the recent dividend payout of Granite Point Mortgage and its implications for shareholders. Presently, the company is distributing a dividend of $0.20 per share, leading to an annualized dividend yield of 13.79%.
In terms of dividend yield, Granite Point Mortgage finds itself in the middle ground among its industry peers, while Invesco Mortgage Capital takes the lead with the highest annualized dividend yield at 17.45%.
Given the decrease in both dividend per share and earnings per share, Granite Point Mortgage may be facing financial headwinds, which could impact their ability to continue distributing profits to investors in the same manner.
To remain updated on any changes in financials or dividend disbursements, investors should closely observe the company's performance in the coming quarters.
\To keep track of which companies are distributing dividends, click here to visit our Dividends Calendar.
This article was generated by Benzinga's automated content engine and reviewed by an editor.