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Two Harbors, 7.50% Series E Cumulative Redeemable Preferred Stock
Ticker Symbol: TWO-E*     CUSIP: 12673A306     Exchange: NYSE
Security Type:   Traditional Preferred Stock
* NOTE: This security is no longer trading as of 3/15/2021

Security has been Called for:  Monday, March 15, 2021

February 04, 2021--Two Harbors Investment Corp. (NYSE: TWO), an Agency + MSR mortgage real estate investment trust, today announced the redemption of all outstanding shares of both the company’s 7.75% Series D Cumulative Redeemable Preferred Stock (NYSE: TWO-D)(the “Series D Preferred Stock”) and 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE: TWO-E)(“Series E Preferred Stock”). The cash redemption amount (the “Redemption Amount”) for each share of Series D Preferred Stock and Series E Preferred Stock is $25.00 plus accrued and unpaid dividends to, but not including, the redemption date for each series of March 15, 2021 (the “Redemption Date”).

April 6, 2020 --Two Harbors Investment Corp. (NYSE: TWO, the “Company”), a leading residential mortgage real estate investment trust, today announced that its Board of Directors declared an interim common stock dividend of $0.05 per share. The interim dividend is payable on April 29, 2020, for stockholders of record as of April 16, 2020. The Board of Directors will evaluate the second quarter dividend and other future quarterly dividends based on market conditions and the Company’s expected ongoing earnings power. ________________ March 24, 2020 -- Two Harbors Investment Corp. (NYSE: TWO) a leading hybrid mortgage real estate investment trust (REIT), today announced that the Company has suspended both its first quarter 2020 common stock and preferred stock dividends to preserve liquidity and long-term stockholder value. The Board of Directors, together with management, has come to the difficult decision to suspend our first quarter 2020 dividends, as a result of the volatile market conditions related to the COVID-19 pandemic, stated Thomas Siering, Two Harbors’ President and Chief Executive Officer. We believe this is a prudent part of managing our liquidity, which is the most important objective for our business in these uncertain times. That being said, we have satisfied our margin calls received to date under our financing arrangements. The Board of Directors will evaluate the Company’s ability to pay dividends in future quarters based upon customary considerations, including market conditions. The Company will also continue to monitor its taxable income and take measures, if necessary, to ensure that it meets the minimum distribution requirements to maintain its status as a REIT. Unpaid dividends on the Company’s preferred stock shall accrue without interest. No dividends may be paid on shares of the Company’s common stock unless all accrued but unpaid dividends on its preferred stock, and any current dividend then due, have been or contemporaneously are paid in cash, or a cash sum sufficient for such payment has been set apart for payment. _______________ July 31, 2018 -- Two Harbors Investment Corp. (NYSE: TWO) and CYS Investments, Inc. (NYSE: CYS) today announced the closing of the previously announced merger between Two Harbors and CYS. Upon the closing of the merger, each share of CYS 7.75% Series A Cumulative Redeemable Preferred Stock was converted into the right to receive one share of newly classified Two Harbors’ 7.75% Series D Cumulative Redeemable Preferred Stock, and each share of CYS 7.50% Series B Cumulative Redeemable Preferred Stock was converted into the right to receive one share of newly classified Two Harbors’ 7.50% Series E Cumulative Redeemable Preferred Stock. The newly issued shares of Two Harbors preferred stock will begin trading on the NYSE under the ticker symbols “TWO PRD” and “TWO PRE” on August 1, 2018.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Two Harbors Investment Corp., 7.50% Series E Cumulative Redeemable Preferred Stock, formerly CYS Investments, 7.50% Series B Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 4/30/2018 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 7.50% per annum ($1.875 per annum or $0.46875 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be the first day of the month in which the payment is due (NOTE: the ex-dividend date is 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.
Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
NYSE
Chart
7.50%
$1.88
$25.00
$25.00
Called for
3/15/2021

None
NR NF
12/16/2020
1/15, 4/15, 7/15 & 10/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
No

Go to Parent Company's Record (TWO)

IPO - 4/23/2013 - 8.00 Million Shares @ $25.00 /share.    Link to IPO Prospectus
Previous Ticker Symbol: CYS-B    Changed: 8/01/2018
Previous Name: CYS Investments, 7.50% Series B Cumulative Redeemable Preferred Stock    Changed: 8/01/2018
Market Value $200.0 Million

Company's Online Information Links
HOME PAGE:     https://twoharborsinvestment.com/
Company's Investor Relations Information Go to Investor Relations Information
Company's Online News Releases Go to News Releases
Online Company Profile Go to Online Profile

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Go to SEC Filings

Company's Email Address Links
Inv Rel Email Address margaret.field@twoharborsinvestment.com
General Email Address investors@twoharborsinvestment.com

Address and Phone Numbers
Address:   590 Madison Avenue, 36th Floor, New York, NY 10022
Main Phone Number 612-629-2500
Fax Number 612-629-2501
Investor Relations   Margaret Karr 212-364-3663
Toll Free Phone Number Unknown
CEO - William Greenberg CFO - Mary Riskey

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