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AG Mortgage Investment Trust, 8.00% Series C Fix/Float Cumul Redeem Prfd Stock
Ticker Symbol: MITT-C     CUSIP: 001228402     Exchange: NYSE
Security Type:   Traditional Preferred Stock

QUANTUMONLINE.COM SECURITY DESCRIPTION:  AG Mortgage Investment Trust, Inc., 8.0% Fixed-to-Floating Rate Series C Cumulative Perpetual Redeemable Preferred Shares, liquidation preference $25 per share, redeemable at the issuer's option on or after 9/17/2024 at $25 per share plus accrued and unpaid dividends, and with no stated maturity.

Cumulative distributions of 8.0% per annum ($2.00 per annum or $0.50 per quarter) will be paid quarterly on 3/17, 6/17, 9/17 & 12/17 to holders of record on the record date that will be the last day of the month preceding the payment date (NOTE: the ex-dividend date is one business day prior to the record date). From 9/17/2024 dividends will be paid at a floating rate of the Three-Month LIBOR plus 6.476% per annum.

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.

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).

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
FixFloat
$2.00
$25.00
$25.00
9/17/2024
None
NF NF
1/09/2023
3/17, 6/17, 9/17 & 12/17
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
No

Go to Parent Company's Record (MITT)

Notes:  Nov 06, 2020 -- The Company announced that its Board of Directors has approved, and the Company has declared and set apart for payment on December 17, 2020, the next regular payment date, all accrued and unpaid cash dividends on its 8.25% Series A Cumulative Redeemable Preferred Stock, 8.00% Series B Cumulative Redeemable Preferred Stock, and 8.000% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock that were in arrears as well as the full dividends payable on the preferred stock for the fourth quarter of 2020 in the amount of $1.54689, $1.50 and $1.50 per share, respectively. The dividends will be paid on December 17, 2020 to holders of record on November 30, 2020

March 27, 2020 -- the Company announced that the Board has approved a suspension of the Company’s quarterly dividends on the Company’s common stock, the Company’s 8.25% Series A Cumulative Redeemable Preferred Stock, the Company’s 8.00% Series B Cumulative Redeemable Preferred Stock, and the Company’s 8.000% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, beginning with the common dividends that normally would have been declared in March 2020 and the preferred dividends that would have been declared in May 2020. The Board’s decision reflects the Company’s continuing focus on conserving capital and improving its liquidity position during the current market volatility.

IPO - 9/11/2019 - 4.00 Million Shares @ $25.00 /share.    Link to IPO Prospectus
Previous Ticker Symbol: AGMGP    Changed: 9/19/2019
Market Value $ Million

Company's Online Information Links
HOME PAGE:     https://www.agmortgageinvestmenttrust.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
Email Address ir@agmit.com

Address and Phone Numbers
Address:   245 Park Avenue, 26th Floor, New York, NY 10167
Main Phone Number 212-692-2000
Fax Number Not Available
Investor Relations 212-692-2110
CEO - T.J. Durkin CFO - Anthony Rossiello


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