PennyMac Mortgage Investment Trust (PMT) will cut its quarterly dividend by 23.0 percent to $0.47 per share in 2015. This follows a dividend increase of 3.4 percent by the mortgage REIT last year.
PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. PennyMac Mortgage Investment Trust operates through two segments: correspondent production and investment activities. PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. (PFSI). The company has paid a dividend every year since 2010.