Invesco Mortgage Capital Inc. reported financial results for the quarter ended March 31, 2023. The company's book value per common share ended the quarter at $12.61, representing a modest decline of 1.4% from year end, and when combined with our $0.40 common dividend produced an economic return of 1.7% for the quarter. Earnings available for distribution remained strong at $1.50 per common share.
Net income per common share was $0.39, compared to $0.84 in Q4 2022.
Earnings available for distribution per common share was $1.50, compared to $1.46 in Q4 2022.
Common stock dividend was $0.40 per common share, compared to $0.65 in Q4 2022.
Book value per common share was $12.61, compared to $12.79 at Q4 2022.
Invesco Mortgage Capital anticipates compelling opportunities for new investments in Agency RMBS due to historically attractive valuations and reduced demand from the Federal Reserve and commercial banks. The conclusion of the Federal Reserve’s tightening cycle is expected to reduce interest rate volatility, providing a tailwind for their target assets.
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