Dallas, Texas 09/11/2013 (Financialstrend) – A specialty, internally managed finance company with heavy focus on 15-year mortgages and key investments in residential mortgage pass-through securities, CYS Investments Inc (NYSE:CYS)’s investment portfolio is primarily targeted at Agency residential mortgage-backed securities (RMBS) and adjustable-rate mortgage loans (ARMs). On Tuesday, September 10 the stock closed at $7.76 after making a day high of $8.02 and at the current price the stock is trading 39% below its 52-week high of $12.73.
The company has recently announced its quarterly dividend of $0.34 per share, similar to what it paid during the last quarter. The dividend will be paid out on October 16 to all the shareholders on record at the end of business hours on September 24. At this rate, the annualized dividend payout could be $1.36 and at the current stock price of $7.76 the current dividend yield counts around 17.5%.
Moreover the company has announced the payout of preferred stock dividend to investors on record as on October 1. The payout will be made on October 15. The dividend payout for two types of preferred stocks will be $0.48 per share for Series A Preferred Stock and $0.39 for Series B.
Owing to volatile economic environment and its impact on REITs, CYS posted a frightening 21% decline in book value during the 2Q13 compare to the preceding quarter. Despite the company’s book value, also referred to as net asset value, experienced huge dip during the 2Q13, the company’s liquidity is adequate to meet all margin calls. The company’s liquidity place remained around 65.4% of net assets aggregating around $1.3 billion at June 30, 2013.
The company also announced on September 10 that CYS’ President, Chief Executive Officer and Chief Investment Officer Kevin E. Grant, CFA will be presenting at RBC Capital Markets’ Financial Institutions meeting on September 18, 2013 at The Four Seasons Boston Hotel.
