Invesco Mortgage Capital Inc. September 2026 Dividend Announcement and August Financial Update

IVR maintains a highly levered, Agency-focused MBS portfolio with active derivatives hedging while continuing its $0.12 monthly common dividend.

Rhea-AI Summary

Invesco Mortgage Capital (IVR) declared a cash dividend of $0.12 per common share for September 2026, payable October 15, 2026 to shareholders of record and ex-dividend on September 28, 2026.

As of August 31, 2026, the company reports a total investment portfolio including TBAs of $8.3 billion, unrestricted cash and unencumbered investments of $534.7 million, and repurchase agreement borrowings of $6.9 billion. Estimated book value per common share is $7.74, with a GAAP debt‑to‑equity ratio of 6.8x and an economic debt‑to‑equity ratio of 7.5x.

The portfolio is 91.8% Agency RMBS/CMO/CMBS and 8.2% Agency TBAs, with 30‑year fixed‑rate Agency RMBS the largest holding. Hedging instruments include $5.04 billion notional of interest rate swaps and $1.61 billion notional short U.S. Treasury futures. All August figures are preliminary, unaudited month‑end data.

Positive

• September 2026 dividend of $0.12 per common share, payable October 15, 2026
• Estimated book value per common share of $7.74 at August 31, 2026
• Unrestricted cash and unencumbered investments of $534.7 million at August 31, 2026
• Total investment portfolio including TBAs of $8.33 billion at August 31, 2026

Negative

• None.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

ATLANTA, Sept. 15, 2026 /PRNewswire/ -- Invesco Mortgage Capital Inc. (NYSE: IVR) (the "Company") today announced that the Company declared a cash dividend of $0.12 per share of common stock for the month of September 2026. The dividend will be paid on October 15, 2026 to stockholders of record at the close of business on September 28, 2026, with an ex-dividend date of September 28, 2026.

Financial Highlights as of August 31, 2026

• Total investment portfolio including TBAs of $8.3 billion
• Unrestricted cash and unencumbered investments of $534.7 million
• Total repurchase agreement borrowings of $6.9 billion
• Estimated book value per common share of $7.74⁽¹⁾
• Debt-to-equity ratio of 6.8x and economic debt-to-equity ratio of 7.5x⁽²⁾

^{(1) Estimated book value per common share as of August 31, 2026 is calculated as total stockholders' equity less the liquidation preference of the Company's Series C Preferred Stock ($168.2 million), divided by total common shares outstanding of 109.0 million.
(2) Debt-to-equity ratio is calculated in accordance with U.S. GAAP as the ratio of total repurchase agreement borrowings to total stockholders' equity. Economic debt-to-equity ratio is a non-GAAP financial measure and is calculated as the ratio of (i) the sum of total repurchase agreement borrowings and TBAs at implied cost basis ($682.0 million) to (ii) total stockholders' equity. Refer to the section titled "Economic Debt-to-Equity Ratio" below for additional information.}

The Company is providing certain preliminary, unaudited month-end financial data as of August 31, 2026, including updates on the Company's book value, investment portfolio, leverage and liquidity. The information in this press release has been prepared by, and is the responsibility of, the Company's management. The Company's independent auditors have not audited, reviewed, examined, compiled nor applied agreed-upon procedures with respect to this information and, accordingly, they do not express an opinion or provide any form of assurance on the figures presented.

The preliminary metrics and estimates included in this press release are based on information that the Company believes to be reliable as of today's date and reflect management's judgment at this stage of the month-end closing process. This month-end update should not be viewed as a substitute for financial statements prepared in accordance with U.S. GAAP and is not necessarily indicative of results to be achieved in any future period. Additional items may be identified as part of the ongoing month-end and quarter-end closing processes, and such items could result in material revisions to the data presented in this press release. Accordingly, readers should not place undue reliance on the preliminary figures contained in this press release. The Company undertakes no obligation to update or revise the information contained herein, whether as a result of new information, subsequent events or otherwise.

Portfolio Composition

The following table summarizes certain characteristics of the Company's investment portfolio including TBAs as of August 31, 2026.

		As of August 31, 2026
$ in thousands		Fair Value		Percentage		Period-end Weighted Average Yield (1)
Agency RMBS:
30 year fixed-rate pass-through coupon:
‌‌‌           4.5 %		1,246,087		15.0 %		4.87 %
‌‌‌           5.0 %		2,091,528		25.1 %		5.20 %
‌‌‌           5.5 %		2,047,538		24.6 %		5.48 %
‌‌‌           6.0 %		1,302,382		15.6 %		5.91 %
Total 30 year fixed-rate pass-through		6,687,535		80.3 %		5.36 %
Agency CMO		63,141		0.7 %		8.86 %
Agency CMBS		900,161		10.8 %		4.63 %
Subtotal		7,650,837		91.8 %		5.30 %
TBAs, at implied market value: (2)
Agency TBA coupon:
‌‌‌           5.5 %		223,400		2.7 %
‌‌‌           6.0 %		455,640		5.5 %
Total Agency TBA		679,040		8.2 %
Total investment portfolio including TBAs		8,329,877		100.0 %

(1) Period-end weighted average yield is based on amortized cost as of August 31, 2026 and incorporates future prepayment assumptions when appropriate.

(2) The presentation of TBAs in the table above represents management's view of the investment portfolio and does not reflect how the Company records TBAs on its balance sheet under U.S. GAAP. Under U.S. GAAP, the Company records TBAs that it does not intend to settle on the contractual settlement date as derivative financial instruments. The Company values TBAs on its balance sheet at net carrying value, which represents the difference between the implied market value and the implied cost basis of the TBAs.

The following table summarizes certain characteristics of the Company's borrowings as of August 31, 2026.

		As of August 31, 2026
$ in thousands		Amount Outstanding		Weighted Average Interest Rate		Weighted Average Remaining Maturity (days)
Repurchase agreements - Agency MBS		6,922,523		3.77 %		16

The following table summarizes certain characteristics of the Company's interest rate swaps whereby the Company pays fixed interest rates and receives floating interest rates based upon the secured overnight financing rate as of August 31, 2026.

$ in thousands		As of August 31, 2026
Maturities		Notional Amount		Weighted Average Fixed Pay Rate		Weighted Average Floating Receive Rate		Weighted Average Years to Maturity
Less than 3 years		1,825,000		1.34 %		3.68 %		1.5
3 to 5 years		1,240,000		1.35 %		3.68 %		4.1
5 to 7 years		600,000		3.71 %		3.68 %		6.4
7 to 10 years		650,000		4.00 %		3.68 %		9.1
Greater than 10 years		725,000		2.92 %		3.68 %		20.9
Total		5,040,000		2.19 %		3.68 %		6.5

The following table summarizes certain characteristics of the Company's U.S. Treasury futures contracts as of August 31, 2026.

		As of August 31, 2026
$ in thousands		Notional Amount - Short
10 year U.S. Treasury futures		740,000
Ultra 10 year U.S. Treasury futures		525,000
30 year U.S. Treasury futures		340,000
Total		1,605,000

Economic Debt-to-Equity Ratio

The Company presents an economic debt-to-equity ratio, a non-GAAP financial measure of leverage that considers the impact of the off-balance sheet financing of its investments in TBAs that are accounted for as derivative instruments under U.S. GAAP and the impact of receivables and payables for unsettled trades (if any). The Company includes these types of TBAs at implied cost basis in its measure of leverage because a forward contract to acquire Agency RMBS in the TBA market carries similar risks to Agency RMBS purchased in the cash market and funded with on-balance sheet liabilities. Similarly, a contract for the forward sale of Agency RMBS has substantially the same effect as selling the underlying Agency RMBS and reducing the Company's on-balance sheet funding commitments. The Company adjusts leverage for receivables and payables for unsettled trades (if any) because sales or purchases of MBS are recorded on the balance sheet on the trade date, while any corresponding changes to repurchase agreement borrowings are not recorded until the settlement date. The Company believes that presenting its economic debt-to-equity ratio, when considered together with its U.S. GAAP financial measure of debt-to-equity ratio, provides information that is useful to investors in understanding how management evaluates at-risk leverage and gives investors a comparable statistic to those of other mortgage real estate investment trusts who present a similar non-GAAP measure of leverage.

About Invesco Mortgage Capital Inc. 

The Company is a real estate investment trust that primarily focuses on investing in, financing and managing mortgage-backed securities and other mortgage-related assets. The Company is externally managed and advised by Invesco Advisers, Inc., a registered investment adviser and an indirect wholly-owned subsidiary of Invesco Ltd., an independent global investment management firm.

Cautionary Notice Regarding Forward-Looking Statements

This press release may include statements and information that constitute "forward-looking statements" within the meaning of the U.S. securities laws as defined in the Private Securities Litigation Reform Act of 1995, and such statements are intended to be covered by the safe harbor provided by the same. Forward-looking statements include our views on the risk positioning of our portfolio, domestic and global market conditions (including the Agency RMBS, Agency CMBS and residential and commercial real estate markets), the market for our target assets, our expected financial performance, including our earnings available for distribution, economic return, comprehensive income and changes in our book value, our intention and ability to pay dividends, our ability to continue performance trends, the stability of portfolio yields, interest rates, spreads, prepayment trends, financing sources, cost of funds, our anticipated leverage, liquidity, capital structure and equity allocation. In addition, words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "projects," "forecasts," and future or conditional verbs such as "will," "may," "could," "should," and "would" as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements.

Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. There can be no assurance that actual results will not differ materially from our expectations. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks identified under the captions "Risk Factors," "Forward-Looking Statements" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our annual report on Form 10-K for the year ended December 31, 2025, which may be updated by subsequently filed quarterly reports on Form 10-Q or current reports on Form 8-K, which are available on the Securities and Exchange Commission's website at www.sec.gov.

All written or oral forward-looking statements that we make, or that are attributable to us, are expressly qualified by this cautionary notice. We expressly disclaim any obligation to update the information in any public disclosure if any forward-looking statement later turns out to be inaccurate.

Greg Seals,
Investor Relations
404-439-3323

View original content to download multimedia:https://www.prnewswire.com/news-releases/invesco-mortgage-capital-inc-september-2026-dividend-announcement-and-august-financial-update-302879666.html

SOURCE Invesco Mortgage Capital Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the key dates for Invesco Mortgage Capital's September 2026 dividend?

The September 2026 cash dividend of $0.12 per common share will be paid on October 15, 2026 to stockholders of record at the close of business on September 28, 2026, which is also the ex-dividend date.

How is Invesco Mortgage Capital's investment portfolio allocated as of August 31, 2026?

As of August 31, 2026, the total investment portfolio including TBAs is $8.33 billion, with 91.8% in Agency RMBS/CMO/CMBS and 8.2% in Agency TBAs. Within 30-year fixed-rate Agency RMBS, coupons of 4.5%, 5.0%, 5.5% and 6.0% comprise the majority, and the period-end weighted average yield on the Agency RMBS/CMBS/CMO subtotal is 5.30%.

What are Invesco Mortgage Capital's leverage metrics and how is economic debt-to-equity defined?

At August 31, 2026, the GAAP debt-to-equity ratio is 6.8x, based on total repurchase agreement borrowings relative to total stockholders' equity. The economic debt-to-equity ratio is 7.5x, calculated as the sum of repurchase agreement borrowings and TBAs at implied cost basis divided by total stockholders' equity, which management presents to reflect off-balance sheet TBA financing and unsettled trade receivables/payables.

What borrowing and hedging arrangements does Invesco Mortgage Capital report as of August 31, 2026?

Repurchase agreements secured by Agency MBS total $6.92 billion with a weighted average interest rate of 3.77% and a weighted average remaining maturity of 16 days. Interest rate swaps used for hedging have $5.04 billion notional, a weighted average fixed pay rate of 2.19%, a floating receive rate based on SOFR of 3.68%, and a weighted average maturity of 6.5 years. The company also holds short positions in U.S. Treasury futures with total notional of $1.61 billion.

How reliable are the August 31, 2026 financial figures disclosed in the update?

The August 31, 2026 figures are preliminary and unaudited. Management prepared the data, and the company's independent auditors have not audited, reviewed, examined, compiled, or performed agreed-upon procedures on it. The company notes that additional items may be identified during the month-end and quarter-end closing processes that could result in material revisions, and advises readers not to place undue reliance on these preliminary metrics.