Invesco Mortgage Capital Inc. Declares April 2026 Dividend and Issues March 31, 2026 Financial Update

Date: April 15, 2026
Company: Invesco Mortgage Capital Inc. (NYSE: IVR)

Key Highlights from the Report

• April 2026 Dividend Declared: The company has declared a cash dividend of \$0.12 per share of common stock for April 2026. The dividend will be paid on May 14, 2026 to shareholders of record at the close of business on April 27, 2026. The ex-dividend date is also April 27, 2026.
• Estimated Book Value Per Common Share: As of March 31, 2026, the estimated book value per common share is \$8.08.
• Total Investment Portfolio: Including TBAs (To-Be-Announced securities), the portfolio stands at \$7.3 billion.
• Liquidity Position: Unrestricted cash and unencumbered investments total \$493.1 million.
• Leverage & Borrowings: Total repurchase agreement borrowings are \$5.3 billion. The GAAP debt-to-equity ratio is 6.1x, and the economic debt-to-equity ratio (which includes off-balance sheet TBAs) is 7.5x.
• Portfolio Composition (as of March 31, 2026):
  • Agency RMBS (30-year fixed-rate): \$5.09 billion (70.2% of the portfolio), weighted average yield: 5.42%.
  • Agency CMO: \$67.1 million (1.0%), yield: 8.89%.
  • Agency CMBS: \$864.3 million (11.9%), yield: 4.61%.
  • TBAs (implied market value): \$1.23 billion (16.9%).
• Funding Profile:
  • Repurchase agreements for Agency MBS: \$5.34 billion at a weighted average interest rate of 3.80%, with an average remaining maturity of 30 days.
  • Interest rate swaps outstanding: \$4.115 billion notional, weighted average fixed pay rate: 1.66%, weighted average floating receive rate: 3.68%, average maturity: 5.8 years.
  • U.S. Treasury futures (short positions): \$990 million notional across 10-year, Ultra 10-year, and 30-year maturities.

Important Information for Shareholders

• Dividend Declaration: The consistent monthly dividend, alongside an updated book value, is significant for income-oriented investors and may impact the share price, particularly for those focused on yield and book value stability.
• Book Value Update: The estimated book value per share of \$8.08 compared to the share price (not stated in the release, but typically a key metric for mortgage REITs) is a critical valuation metric. Any significant divergence from market price could influence trading activity.
• Leverage and Liquidity: The relatively high leverage (economic debt-to-equity ratio of 7.5x) and substantial liquidity position are vital risk factors. High leverage can amplify both returns and risks, which may affect investor sentiment and share price volatility.
• Preliminary Nature of Financial Data: The company emphasizes that these numbers are preliminary, unaudited, and may be revised. Investors should exercise caution, as future adjustments may materially impact the reported figures and, consequently, the share price.
• Portfolio Risk Management: The use of TBAs and derivatives (swaps, futures) for hedging and positioning exposes the company to market, interest rate, and counterparty risks. Any significant moves in rates or spreads could impact asset values and earnings.
• Forward-Looking Statements & Risk Factors: The company includes cautionary language regarding forward-looking statements, highlighting risks such as market conditions, interest rate changes, prepayment trends, funding costs, and their collective impact on book value, earnings, and dividend sustainability.

Summary for Investors

Invesco Mortgage Capital Inc. has provided a comprehensive update for shareholders, declaring a \$0.12 per share common stock dividend for April 2026 and presenting detailed, preliminary financial figures as of March 31, 2026. While the company maintains a strong liquidity position and diversified investment portfolio, shareholders should note the elevated leverage and the preliminary, unaudited nature of the financial data.

The updated book value per share, consistent dividend, and leverage metrics are all potentially price-sensitive. Any significant changes or future adjustments disclosed during the finalized quarterly report could materially impact share value and investor returns. Investors are encouraged to monitor ongoing disclosures and exercise caution regarding the provisional nature of this release.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. All financial data referenced is preliminary and unaudited; actual results may differ materially after completion of management’s closing process and auditor review. Investors should consult the company’s official filings and disclosures, including risk factors and forward-looking statement disclaimers, before making investment decisions.

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