Company: TWO-PC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001465740-25-000140
Chunk: 96

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 96
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 excluding, the redemption date. Through June 30, 2025, the Company had declared and paid all required quarterly dividends on the Company’s preferred stock.Preferred Share Repurchase ProgramIn June 2022, the Company’s board of directors authorized the repurchase of up to an aggregate of 5,000,000 shares of the Company’s preferred stock, which includes each series shown in the table above under the heading Redeemable Preferred Stock. Preferred shares may be repurchased from time to time through privately negotiated transactions or open market transactions, pursuant to trading plans in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, or the Exchange Act, or by any combination of such methods. The manner, price, number and timing of preferred share repurchases are subject to a variety of factors, including market conditions and applicable SEC rules. The preferred share repurchase program does not require the purchase of any minimum number of shares, and, subject to SEC rules, purchases may be commenced or suspended at any time without prior notice. The preferred share repurchase program does not have an expiration date.The following table summarizes the Company’s purchases of its 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, 7.625% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock and 7.25% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock under the preferred share repurchase program during the six months ended June 30, 2024. No shares of the Company’s preferred stock were repurchased during the three and six months ended June 30, 2025 or the three months ended June 30, 2024.Six Months Ended(dollars in thousands)June 30, 2024Class of StockNumber of SharesAggregate CostSeries A Preferred Stock35,047 $809 Series B Preferred Stock280,060 $6,370 Series C Preferred Stock170,502 $3,923 Total(1)485,609 $11,102 ____________________(1)The difference between the aggregate cost and the carrying value of the preferred stock repurchased resulted in a total gain attributable to common stockholders of $0.6 million for the six months ended June 30, 2024.Common StockAs of June 30, 2025, the Company had 104,132,453 shares of common stock outstanding. The following table presents