CHMI, US1646512004

Cherry Hill Mortgage Investment stock heads for a merger vote

Published on 10/05/2026 at 14:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Cherry Hill Mortgage Investment stock carries a USD 0.6162 Series B dividend for Q3 2026. A December 2 vote will decide the planned TPG combination.

CHMI, US1646512004, Illustration mit AI erstellt.

Cherry Hill Mortgage Investment stock is tied to a planned one-for-one preferred-share conversion after a filing dated October 2, 2026. Under the proposed transaction, each Series B preferred share would become one MITT Series E preferred share, keeping the security's role in the merger central for income-focused holders.

Series B keeps its dividend

Business Wire reported on September 10, 2026, that Cherry Hill declared a USD 0.6162 dividend for each Series B preferred share for the third quarter of 2026. The payment is scheduled for October 15, 2026, to holders of record as of September 30, 2026.

The dividend announcement follows second-quarter operating figures. Cherry Hill reported USD 5.5 million of earnings available for distribution, or USD 0.15 per diluted share, for Q2 2026, while GAAP net income applicable to common stockholders was USD 1.3 million, or USD 0.04 per share, according to Business Wire.

Merger terms shape the outcome

The October 2, 2026 filing states that CHMI Series B preferred shares would convert into MITT Series E preferred shares with substantially the same rights, preferences, privileges and voting powers. The filing also identifies CHMI Series B as an 8.250% fixed-to-floating rate cumulative redeemable preferred stock listed on the NYSE under CHMI-PRB.

The planned conversion differs from a cash redemption. Holders would receive a new preferred security under the combined company rather than a cash payment at closing, making the successor issuer and its dividend policy the key terms to monitor. The proposed merger requires stockholder approval, with both companies scheduled to vote on December 2, 2026, according to the StockTitan filing.

Book value sets a company benchmark

Cherry Hill's common book value was USD 3.16 per share as of June 30, 2026, while its portfolio included USD 15.2 billion of unpaid principal balance in mortgage servicing rights and USD 1.3 billion of investable assets, according to the company's investor-relations page. Those figures describe the operating base behind the preferred dividend, but the proposed conversion shifts the security's future from standalone Cherry Hill credit to the combined MITT platform.

Preferred conversion comes next

The Series B preferred security is listed on the NYSE under CHMI-PRB. The planned December 2, 2026 vote and the October 15, 2026 dividend payment are the next dated events for holders.