New York Mortgage Trust Inc (NASDAQ: NYMT) announced today that it proposes to cash in all 4,181,807 of the unresolved stocks of the company’s 7.875% Series C Snowballing Exchangeable Favored Stock, par value $0.01 per share on July 30, 2021.
Stocks currently listed on NASDAQ Global Select Market
The Series C Favored Stock Stocks is presently registered on the NASDAQ Global Select Market under the sign “NYMTO.”
The company will cash all unsettled stocks of Series C Preferred Stock at a cash reclamation price of $25.00 per share, plus any accumulated and owing dividends from July 15, 2021, up to, but not counting, the Reclamation Date.
Disbursements on the stocks of Series C Favored Stock will stop accumulating on the Reclamation Date. Upon reclamation, the stocks of Series C Favored Stock will no lengthier be thought unresolved. All privileges concerning the stocks of Series C Preferred Stock will stop and stop, but only the right of the holders thereof to receive the Reclamation Price, without interest, from the reclamation and disbursement representative.
All delivered and unresolved Series C Favored Stock shares are held in the book-entry method through the Depository Trust Company.
The company declares consistent three-monthly cash disbursement of $0.10 per share
In other news, the company has declared a consistent three-monthly cash disbursement of $0.10 per share on stocks of its common stock for the quarter ending June 30, 2021. On July 26, 2021, the disbursement will be outstanding to common shareholders of record as of the near of trade on June 24, 2021.
In addition, the Board affirmed cash disbursements on the company’s 7.75% Series B Snowballing Exchangeable Favored Stock, 7.875% Series C Cumulative Exchangeable Favored Stock. It also announced disbursement for the 8.00% Series D Fixed-to-Floating Amount Increasing Exchangeable Favored Stock and 7.875% Series E Fixed-to-Floating Rate Snowballing Exchangeable Favored Stock.