Two Harbors Investment Corp . (NYSE: TWO), a leading hybrid mortgage real estate investment trust, today announced the distribution ratio for the special dividend (the "Stock Dividend") of common stock of Granite Point Mortgage Trust Inc. (NYSE: GPMT) ("Granite Point"). As previously announced, the company intends to distribute the 33,071,000 shares of Granite Point common stock it acquired in connection with the contribution of its commercial real estate portfolio to Granite Point. The Stock Dividend will be distributed on November 1, 2017 (the "Dividend Date"), on a pro rata basis, to the holders of Two Harbors common stock outstanding as of the close of business on October 20, 2017 (the "Record Date").

Two Harbors common stockholders will be entitled to receive approximately 0.095 shares of Granite Point common stock for each share of Two Harbors common stock held as of the Record Date, subject to the liquidation of fractional shares for which stockholders will receive cash in lieu. Please note that stockholders who sell their shares of Two Harbors common stock prior to or on the Dividend Date may also be selling their right to receive shares of Granite Point common stock in the Stock Dividend. Two Harbors common stockholders are encouraged to consult their financial advisors and tax advisors regarding the consequences of the Stock Dividend and the previously announced one-for-two reverse stock split of the shares of Two Harbors common stock (the "Reverse Stock Split"), including without limitation the implications of selling the common stock of Two Harbors and Granite Point on or prior to the Dividend Date and the applicability and effect of any U.S. federal, state, local or foreign tax laws.

Additional information regarding the Stock Dividend and the Reverse Stock Split, including frequently asked questions, is available on the company's website at The company also intends to provide final details regarding the distribution ratio and tax basis information for the Stock Dividend following the Dividend Date.

Two Harbors Investment Corp.

Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that invests in residential mortgage-backed securities, mortgage servicing rights and other financial assets. Two Harbors is headquartered in New York, New York, 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

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, including with respect to the Stock Dividend and the Reverse Stock Split. 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. These forward looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results.

Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Two Harbors does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. Additional information concerning these and other risk factors is contained in Two Harbors' most recent filings with the Securities and Exchange Commission. All subsequent written and oral forward looking statements concerning Two Harbors or matters attributable to Two Harbors or any person are qualified by these cautionary statements.

Additional Information

Stockholders of Two Harbors and other interested persons may find additional information regarding the company at the Securities and Exchange Commission's Internet site at or by directing requests to: Two Harbors Investment Corp., 590 Madison Avenue, 36 th floor, New York, NY 10022, telephone 612-629-2500.

View source version on

Copyright Business Wire 2010