Key Highlights

  • PennyMac's $0.40 quarterly Dividend trades ex-dividend October 8, 2026, with payment on October 23 to common shareholders of record.
  • Second-quarter Net Income was $20 million, or $0.23 per diluted share, with net Investment income of $73 million.
  • Annualized return on common Equity was 6%, compared with 4% in the first quarter, and Book Value was $14.83.
  • The company executed six securitizations totaling $2.2 billion of unpaid principal balance, generating $120 million of non-Agency subordinate bond investments.

PennyMac Mortgage Investment Trust (NYSE:PMT) declared a quarterly dividend of $0.40 per common share, a Yield of 19.93%, payable October 23 to shareholders of record on October 8, 2026. Second-quarter net income was $20 million, or $0.23 per diluted share. Book value per share was $14.83.

Dividend Program and Shareholder Returns

PennyMac's board declared the $0.40 per common share dividend on September 2, 2026, payable October 23 to shareholders of record on October 8. The shares trade ex-dividend on October 8. The declaration followed the second-quarter results released on July 29, 2026.

In its second-quarter release, the company stated that it maintained the common share dividend at $0.40 per share. Book value per share was $14.83, compared with $14.98 in the first quarter. Annualized return on common equity was 6%, compared with 4% in the first quarter. Each dividend remains subject to board approval.

About the Company

PennyMac Mortgage Investment Trust is a mortgage real estate investment trust that reports Credit Sensitive Strategies, Interest Rate Sensitive Strategies and Aggregation and Securitization segments. Total Assets were $25.1 billion, up 49% from a year earlier. The company reported a mortgage servicing rights portfolio with a Fair Value of $3.6 billion, down 1% from the first quarter.

Second-Quarter Earnings and Segment Results

PennyMac reported second-quarter net income of $20 million, or $0.23 per diluted share, and net investment income of $73 million. The Credit Sensitive Strategies segment reported an annualized Return on Equity of 11%, with $938 million of fair value in organically created credit risk transfer investments.

The Interest Rate Sensitive Strategies segment reported an annualized return on equity of 3%, and mortgage servicing rights Cash Flow realization was $100 million, compared with $107 million in the first quarter. The Aggregation and Securitization segment reported an annualized return on equity of 21% and pretax income of $11 million.

Securitizations, Loan Acquisitions and the MSR Sale

PennyMac executed six securitizations totaling $2.2 billion of unpaid principal balance, generating $120 million of non-Agency subordinate bond investments. Correspondent loan acquisitions were $2.6 billion, down 8% from the first quarter, and production for securitizations from PennyMac Financial Services was $2.2 billion, up 44%. Agency mortgage-backed securities purchases were $486 million.

In its July 29 release, the company stated that it agreed to sell $13 billion of unpaid principal balance of low-coupon Agency mortgage servicing rights, with an August month-end closing cited. It also stated that it ceased Agency-eligible loan acquisitions through its correspondent channel while retaining 100% of non-Agency volumes. Chief executive officer David Spector stated that the company is moving to strengthen the overall earnings power of its portfolio.

Outlook

PennyMac's $0.40 quarterly dividend is payable October 23 to shareholders of record on October 8, 2026. Net investment income relative to the $0.40 dividend, book value per share relative to the $14.83 reported at June 30, and the effect of the mortgage servicing rights sale and correspondent channel changes are the relevant considerations.