NEW YORK--(BUSINESS WIRE)--Granite Point Mortgage Trust Inc. (NYSE: GPMT) (“GPMT,” “Granite Point” or the “Company”) today announced that the Company’s Board of Directors declared a quarterly cash dividend of $0.25 per share of common stock for the first quarter of 2021. This dividend will be payable on April 19, 2021 to common stockholders of record as of April 1, 2021.
“Our investment objective includes providing our stockholders an attractive income stream in the form of common dividends derived from cash flows produced by our defensively-positioned, conservatively-underwritten and well-diversified investment portfolio comprised of 100% loans,” said Jack Taylor, Granite Point’s Chief Executive Officer, President and Director. “Given the strong performance of our portfolio in the overall market environment, its earnings generation potential, and the level of our taxable income, we believe that increasing our common dividend to $0.25 per share is appropriate. We remain focused on improving our earnings and dividends over time. Together with our Board of Directors, we will continue to evaluate the level of our common stock dividend taking into consideration, among other factors, core profitability of our business, liquidity needs, our capital structure, and market conditions.”
About Granite Point Mortgage Trust Inc.
Granite Point Mortgage Trust Inc. is a Maryland corporation focused on directly originating, investing in and managing senior floating rate commercial mortgage loans and other debt and debt-like commercial real estate investments. Granite Point is headquartered in New York, NY. Additional information is available at www.gpmtreit.com.
Stockholders of Granite Point and other interested persons may find additional information regarding the Company at the Securities and Exchange Commission’s Internet site at www.sec.gov or by directing requests to: Granite Point Mortgage Trust Inc., 3 Bryant Park, 24th floor, New York, NY 10036, telephone (212) 364-5500.