Two Harbors Investment Corp . (NYSE: TWO; NYSE MKT: TWO.WS) today announced the final distribution ratio for the special dividend of its shares of common stock in Silver Bay Realty Trust Corp. (NYSE: SBY) (“Silver Bay”).
As previously announced on March 18, 2013, the special committee of the company’s board of directors declared a special dividend (the “Stock Dividend”) pursuant to which the company will distribute, on a pro rata basis, 17,824,647 shares of Silver Bay common stock to Two Harbors stockholders of record at the close of business on April 2, 2013.
Two Harbors stockholders will receive approximately 0.049 shares of Silver Bay common stock for each share of Two Harbors common stock they own of record as of April 2, 2013, subject to the liquidation of fractional shares for which stockholders will receive cash in lieu.
The NYSE has established March 28, 2013 as the ex-dividend date for the Stock Dividend. The Stock Dividend is payable on or about April 24, 2013.Two Harbors Investment Corp. Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that invests in residential mortgage-backed securities, residential mortgage loans and other mortgage-related assets. Two Harbors is headquartered in Minnetonka, Minnesota, and is externally managed and advised by PRCM Advisers LLC, a wholly-owned subsidiary of Pine River Capital Management L.P. Additional information is available at www.twoharborsinvestment.com. Forward-Looking Statements This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “target,” “assume,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements.