{"id":877660,"date":"2025-08-20T17:10:13","date_gmt":"2025-08-20T21:10:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/two-provides-business-update\/"},"modified":"2025-08-20T17:10:13","modified_gmt":"2025-08-20T21:10:13","slug":"two-provides-business-update","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/two-provides-business-update\/","title":{"rendered":"TWO Provides Business Update"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignl { text-align: left }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwleftsingle { border-left: solid black 1pt }\n.bwlistcircle { list-style-type: circle }\n.bwlistdisc { list-style-type: disc }\n.bwmarginl2 { margin-left: 60px }\n.bwpadb3 { padding-bottom: 4px }\n.bwpadl0 { padding-left: 0px }\n.bwpadl1 { padding-left: 5px }\n.bwpadr0 { padding-right: 0px }\n.bwrightsingle { border-right: solid black 1pt }\n.bwrowaltcolor0 { background-color: #cceeff }\n.bwrowaltcolor1 { background-color: #d3d3d3 }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwtopsingle { border-top: solid black 1pt }\n.bwuline { text-decoration: underline }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth100 { width: 100% }\n.bwwidth20 { width: 20% }\n.bwwidth30 { width: 30% }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>TWO Provides Business Update<\/b><\/p>\n<p class=\"bwalignc\"><b><i>Announces Resolution of Litigation and Third Quarter 2025 Common and Preferred Stock Dividends<\/i><\/b><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.twoharborsinvestment.com%2F&amp;esheet=54310267&amp;newsitemid=20250819460786&amp;lan=en-US&amp;anchor=TWO&amp;index=1&amp;md5=291f0d7e791d99f664aadcb3640b702e\"><b>TWO<\/b><\/a> (Two Harbors Investment Corp, NYSE: TWO), an MSR-focused REIT, today provided a business update regarding the resolution of pending litigation and its third quarter 2025 common and preferred stock dividends.<\/p>\n<p><span class=\"bwuline\">Resolution of Pine River Litigation<\/span><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nThe company has entered into a settlement agreement, dated as of August 20, 2025, resolving all claims in its litigation with PRCM Advisers LLC, Pine River Capital Management L.P., and Pine River Domestic Management L.P. (collectively, \u201cPine River\u201d).<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nPursuant to the settlement agreement, the company has agreed to make a one-time cash payment of $375 million to Pine River, which is payable within thirty days of the date of the settlement agreement.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nThe company expects to fund the settlement payment through a combination of cash on hand and available borrowing capacity, and will continue to have ample liquidity following the payment.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nPine River will relinquish all ownership claims to intellectual property used by the company.<\/p>\n<\/li>\n<\/ul>\n<p>\n\u201cThe resolution of this matter is an important development for our company that allows us to move forward with clarity and certainty of purpose,\u201d said Bill Greenberg, TWO\u2019s President and CEO. \u201cWe believe we are well positioned with the depth of expertise, investment strategy and operational opportunities to execute and deliver value for our stockholders.\u201d<\/p>\n<p><span class=\"bwuline\">Business Update<\/span><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nThe company estimates that its book value was approximately $12.73 per common share as of August 15, 2025 (before giving effect to any common stock dividend accrual, but after giving effect to preferred stock dividend accrual), compared to $12.14 per common share as of June 30, 2025, representing a total economic return of approximately 4.9%.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistcircle bwmarginl2\">\n<li>\nAfter adjusting for the settlement payment, the company estimates that its book value as of August 15, 2025 would be approximately $11.06 per common share (before giving effect to any common stock dividend accrual, but after giving effect to preferred stock dividend accrual).<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nIn the third quarter, the company signed a term sheet with a new subservicing client, seeded by the sale by the company of approximately $20 billion unpaid principal balance in MSR on a servicing-retained basis, subject to customary settlement procedures. This new relationship will increase the company\u2019s third-party subservicing business to $31 billion unpaid principal balance, or approximately 138,000 loans.<\/p>\n<\/li>\n<\/ul>\n<p><span class=\"bwuline\">Third Quarter Common and Preferred Stock Dividends<\/span><\/p>\n<p>\nThe Board of Directors of TWO today declared a dividend of $0.34 per share of common stock for the third quarter of 2025. The third quarter dividend is payable on October 29, 2025 to common stockholders of record at the close of business on October 3, 2025.<\/p>\n<p>\nThe company\u2019s common stock dividend is a function of several factors, including sustainability, earnings and return potential of the portfolio, taxable income, impact to book value and the market environment. The third quarter 2025 dividend reflects the company\u2019s book value after giving effect to the settlement payment.<\/p>\n<p>\nTWO also declared today the following preferred stock dividends for the third quarter of 2025:<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl1 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Series of Preferred Stock<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl1 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Ticker<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl1 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Per Annum Dividend Rate<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl1 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Dividend Per Share<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwvertalignb bwpadl1 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n8.125% Series A Cumulative Redeemable Preferred Stock<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl1 bwwidth20 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTWO.PRA<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwpadb3 bwpadl1 bwalignl bwwidth30 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n8.125%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwpadb3 bwpadl1 bwwidth20 bwalignl bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n$0.50781<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor1 bwvertalignb bwpadl1 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n7.625% Series B Cumulative Redeemable Preferred Stock<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor1 bwpadl1 bwwidth20 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTWO.PRB<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwpadb3 bwrowaltcolor1 bwpadl1 bwalignl bwwidth30 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n7.625%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwpadb3 bwrowaltcolor1 bwpadl1 bwwidth20 bwalignl bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n$0.47656<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwvertalignb bwpadl1 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n7.25% Series C Cumulative Redeemable Preferred Stock<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl1 bwwidth20 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTWO.PRC<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl1 bwalignl bwwidth30 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n9.58689%<sup>(1)<\/sup><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadr0 bwpadb3 bwpadl1 bwwidth20 bwalignl bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n$0.61250<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(1) The Series C Cumulative Redeemable Preferred Stock accrue dividends at a floating rate, as determined on each dividend determination date, equal to the Three-Month CME Term SOFR plus 0.26161% plus 5.011%.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nThe Series A, Series B and Series C preferred dividends are payable on October 27, 2025 to the applicable preferred stockholders of record at the close of business on October 10, 2025.<\/p>\n<p><b>Cautionary Note Regarding Forward-Looking Statements<\/b><\/p>\n<p>\nThis release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Forward-looking statements are not intended to be a guarantee of future results, but constitute the Company\u2019s current expectations based on reasonable assumptions. Such forward-looking statements include, but are not limited to, those related to the settlement agreement, the funding of the settlement payment, estimated book values, the company\u2019s liquidity position, the payment of the third quarter common and preferred stock dividends, the company\u2019s subservicing business and new client relationships, and the sale of MSR assets and closing thereof.<\/p>\n<p>\nActual results could differ materially from those projected in the Company\u2019s forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in the prospectus supplement related to the offering and the Company\u2019s filings with the SEC, including, but not limited to, the risks discussed under Item 1A: \u201cRisk Factors\u201d and Item 7: \u201cManagement&#8217;s Discussion &amp; Analysis\u201d in the Company\u2019s 2024 Annual Report on Form 10-K and in any subsequent reports filed with the SEC. Potential investors are encouraged to read the Company\u2019s filings to learn more about the risk factors associated with the Company\u2019s business. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except where required by law.<\/p>\n<p><b>About TWO<\/b><\/p>\n<p>\nTWO (Two Harbors Investment Corp., NYSE: TWO), a Maryland corporation, is a real estate investment trust that invests in mortgage servicing rights, residential mortgage-backed securities and other financial assets. TWO is headquartered in St. Louis Park, MN.<\/p>\n<p><b>Additional Information<\/b><\/p>\n<p>\nStockholders of TWO and other interested persons may find additional information regarding the company at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.twoinv.com&amp;esheet=54310267&amp;newsitemid=20250819460786&amp;lan=en-US&amp;anchor=www.twoinv.com&amp;index=2&amp;md5=2ab0f3fdf4ae5bdb42a73d2dec0b7687\">www.twoinv.com<\/a>, at the Securities and Exchange Commission\u2019s internet site at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=54310267&amp;newsitemid=20250819460786&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=3&amp;md5=455a31c010982136850376d714a45868\">www.sec.gov<\/a> or by directing requests to: TWO, 1601 Utica Avenue South, Suite 900, St. Louis Park, MN 55416, (612) 453-4100.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250819460786r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250819460786\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250819460786\/en\/<\/a><\/span><\/p>\n<p>\nMargaret Karr, Head of Investor Relations, TWO, (612) 453-4080, <a rel=\"nofollow\" href=\"mailto:Margaret.Karr@twoinv.com\">Margaret.Karr@twoinv.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Professional Services Other Construction &amp; Property Legal Residential Building &amp; Real Estate Finance Construction &amp; Property REIT<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250819460786\/en\/2390595\/3\/TWO_Logo_C.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>TWO Provides Business Update Announces Resolution of Litigation and Third Quarter 2025 Common and Preferred Stock Dividends NEW YORK&#8211;(BUSINESS WIRE)&#8211;TWO (Two Harbors Investment Corp, NYSE: TWO), an MSR-focused REIT, today provided a business update regarding the resolution of pending litigation and its third quarter 2025 common and preferred stock dividends. Resolution of Pine River Litigation The company has entered into a settlement agreement, dated as of August 20, 2025, resolving all claims in its litigation with PRCM Advisers LLC, Pine River Capital Management L.P., and Pine River Domestic Management L.P. (collectively, \u201cPine River\u201d). Pursuant to the settlement agreement, the company has agreed to make a one-time cash payment of $375 million to Pine River, which is payable within thirty days &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/two-provides-business-update\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;TWO Provides Business Update&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-877660","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>TWO Provides Business Update - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/two-provides-business-update\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TWO Provides Business Update - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TWO Provides Business Update Announces Resolution of Litigation and Third Quarter 2025 Common and Preferred Stock Dividends NEW YORK&#8211;(BUSINESS WIRE)&#8211;TWO (Two Harbors Investment Corp, NYSE: TWO), an MSR-focused REIT, today provided a business update regarding the resolution of pending litigation and its third quarter 2025 common and preferred stock dividends. Resolution of Pine River Litigation The company has entered into a settlement agreement, dated as of August 20, 2025, resolving all claims in its litigation with PRCM Advisers LLC, Pine River Capital Management L.P., and Pine River Domestic Management L.P. (collectively, \u201cPine River\u201d). 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/two-provides-business-update\/","og_locale":"en_US","og_type":"article","og_title":"TWO Provides Business Update - Market Newsdesk","og_description":"TWO Provides Business Update Announces Resolution of Litigation and Third Quarter 2025 Common and Preferred Stock Dividends NEW YORK&#8211;(BUSINESS WIRE)&#8211;TWO (Two Harbors Investment Corp, NYSE: TWO), an MSR-focused REIT, today provided a business update regarding the resolution of pending litigation and its third quarter 2025 common and preferred stock dividends. Resolution of Pine River Litigation The company has entered into a settlement agreement, dated as of August 20, 2025, resolving all claims in its litigation with PRCM Advisers LLC, Pine River Capital Management L.P., and Pine River Domestic Management L.P. (collectively, \u201cPine River\u201d). Pursuant to the settlement agreement, the company has agreed to make a one-time cash payment of $375 million to Pine River, which is payable within thirty days &hellip; Continue reading \"TWO Provides Business Update\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/two-provides-business-update\/","og_site_name":"Market Newsdesk","article_published_time":"2025-08-20T21:10:13+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250819460786r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/two-provides-business-update\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/two-provides-business-update\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"TWO Provides Business Update","datePublished":"2025-08-20T21:10:13+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/two-provides-business-update\/"},"wordCount":961,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/two-provides-business-update\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250819460786r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/two-provides-business-update\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/two-provides-business-update\/","name":"TWO Provides Business Update - 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