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Invesco Mortgage Capital Inc | 7.50% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock (IVR.PRC)
Prospectus excerpt: We are offering to the public 10,000,000 shares of our 7.50% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock, par value $0.01 per share, with a liquidation preference of $25.00 per share which we refer to in this prospectus supplement as the Series C Preferred Stock. This is the initial issuance of the Series C Preferred Stock. From, and including, the date of issuance to, but not including, September 27, 2027, we will pay cumulative dividends on the Series C Preferred Stock at an initial rate of 7.50% per annum based on the $25.00 per share liquidation preference, equivalent to $1.875 per share. From, and including, September 27, 2027 and thereafter, we will pay cumulative dividends on the Series C Preferred Stock at a floating rate equal to three-month LIBOR (as defined herein) as calculated on each applicable date of determination (as defined herein) plus a spread of 5.289% per annum based on the $25.00 per share liquidation preference. We will pay quarterly cumulative dividends on the Series C Preferred Stock, in arrears, on the 27th day of each March, June, September and December (provided that if any dividend payment date is not a business day, then the dividend which would otherwise have been payable on that dividend payment date may be paid on the next succeeding business day). The first dividend on the Series C Preferred Stock sold in this offering will be payable on December 27, 2017 and will be for more than a full quarter, covering the period from, and including, the date of issuance to but not including December 27, 2017, in the amount of $0.68229 per share. Full Prospectus PDF », Secondary Prospectus PDF », IVR Page »
Series: | C | Alternate symbology: | IVR-C, IVR-PC, IVRprC | Redeemable?: | Yes | Call Date: | 9/27/2027 | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 10,000,000 | Overallotment: | 1,500,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $21.02 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-3.98 (-15.92%) | Annualized Dividend: | 1.875 | Recent Ex-Date: | 3/4/2024 | Current Yield: | 8.92% | Original Coupon: | 7.50% | Pay Period: | Quarterly | Pay Dates: | 27-Mar, 27-Jun, 27-Sep, 27-Dec | CDx3 Compliance Rating: |
Learn IVR.PRC's Rating
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Invesco Mortgage Capital is a holding company. Through its subsidiaries, Co. focuses on investing in, financing and managing mortgage-backed securities and other mortgage-related assets. Co. invests in the following: residential mortgage-backed securities (RMBS) that are guaranteed by a U.S. government agency or a federally chartered corporation; commercial mortgage-backed securities that are not guaranteed by a U.S. government agency or a federally chartered corporation; RMBS that are not guaranteed by a U.S. government agency or a federally chartered corporation; to-be-announced securities forward contracts; other real estate-related financing arrangements; and U.S. Treasury securities. Preferreds: IVR.PRA, IVR.PRB, IVR.PRC Open the IVR Information Page »
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Name: |
Invesco Mortgage Capital Inc |
Website: |
www.invescomortgagecapital.com |
Sector: |
REITs |
Number of ETFs Holding IVR: |
23 (see which ones) |
Total Market Value Held by ETFs: |
$56,497,146 |
Total Market Capitalization: |
$394,000,000 |
% of Market Cap. Held by ETFs: |
14.34% |
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