Key Highlights

  • Invesco Mortgage Capital (NYSE:IVR) declared USD 0.12 per share for September 2026, payable October 15 to holders of record on September 28. Annualized at USD 1.44 over a USD 5.71 quote, the Yield is about 25.2 percent.
  • Estimated Book Value per share was USD 7.74 at August 31, 2026, down from USD 8.03 at June 30. At the USD 5.71 quote, simple arithmetic puts price to book near 0.74.
  • Second quarter Earnings available for distribution were USD 0.50 per share against USD 0.36 of dividends for the quarter, while GAAP Net Income was USD 0.34 per share after a USD 0.28 loss in the first quarter.
  • The Debt to Equity ratio was 6.8x at August 31, with an economic debt to equity ratio of 7.5x, and about 73 percent of the USD 8.15 billion June 30 portfolio sat in agency residential securities.

The Latest Declared Dividend

Invesco Mortgage Capital (NYSE:IVR) announced its September 2026 Dividend on September 15, 2026: USD 0.12 per common share, with an ex-dividend and Record Date of September 28 and a payment date of October 15. The second quarter release showed monthly dividends totaling USD 0.36, unchanged from the first quarter, so no cut appeared in the last two quarters of data reviewed. The yield arithmetic is the annualized latest dividend divided by the latest quote: USD 0.12 times 12 is USD 1.44, divided by USD 5.71, or about 25.2 percent, in line with the screener figure of 25.26 percent. It is a snapshot, not a guarantee, because the board sets each month's amount.

Spread, Leverage and Book Value

Invesco Mortgage Capital (NYSE:IVR) is an agency heavy mortgage REIT. At June 30 its USD 8.15 billion portfolio held USD 6.0 billion of agency residential securities, USD 901.9 million of agency commercial securities and USD 1.2 billion of to be announced positions. It earns the gap between mortgage yields and repo funding costs, magnified by leverage, so rate swings and spread moves flow quickly into book value per share. Book value fell from USD 8.08 at March 31 to USD 8.03 at June 30, then to an estimated USD 7.74 at August 31, which is unaudited and preliminary. A share price below book, about 0.74 times, signals the market discounts that earnings power.

Coverage, Risks and What to Watch

Earnings available for distribution of USD 0.50 per share in the second quarter, down from USD 0.55, covered the USD 0.36 dividend by roughly 1.4 times on simple arithmetic. That measure excludes some Market Value changes, and GAAP results swung from a USD 0.28 loss to USD 0.34 of income. Risks include wider mortgage spreads, higher repo costs, prepayment shifts and a book value that has drifted lower. Liquidity was USD 534.7 million at August 31. The company reported no reverse split in the documents reviewed. The next monthly update is expected in mid October, and no separate catalyst from the last two weeks was found.

Where Things Stand

Invesco Mortgage Capital (NYSE:IVR) shows a yield of about 25 percent because it pays USD 0.12 monthly on a USD 5.71 quote that sits roughly 26 percent below its estimated USD 7.74 book value. Earnings available for distribution covered the dividend, but leverage near 7.5x and a falling book value keep the payout exposed to rate and spread moves. The next check is the mid October update. This is informational analysis, not Investment advice.