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Two Harbors Investment Corp. Message Board

  • hawkster654 hawkster654 Mar 22, 2013 12:20 PM Flag

    Does anybody realy know how many shares of sby

    we are going to recieve for every share of two. So many different figures sounds like most people are guessing,since two hasen't said much.

    Sentiment: Hold

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    • The short answer hasn't been announced yet.

      They have announced a distribution of SBY shares but haven't announced the exact amount per TWO share yet.

      • 2 Replies to sheetwise
      • At the current price, that would be .93 per share, but the price of SBY may change slightly by Thurs. So the initial estimates, about $1 per share is probably good. This is ON TOP of the .32, so we should be good for about $1.25, or 9% for just this quarter. Or, annualized (assuming the .32 holds up) 16%. Not bad.

      • yourbestfriendintheworld yourbestfriendintheworld Mar 25, 2013 4:12 PM Flag

        Yes it has. sonetirot got it right. the entire 57.5 million was issued, and the pre-SPO shares out was given by the IR department, and the number of SBY shares being distributed was listed in the div announcement and the SBY restricted-share issue announcement.

        I'll be surprised if it's any different. Litigiously so. I bought shares expecting a certain result. So did everyone else.

    • Precisely calculated (17,824,647) / ( 300,722,420+57,500,000) = 0.049758602
      For calculation purpose : Roughly 2010 shares of TWO would get 100.014791 of SBY
      You would get 100 shares of SBY the fraction of shares in cash later on whatever price they sell SBY later.
      Assume you have 2010 shares @ $13.81 value $27,758.10
      Assume SBY 100.014791 @ $19.02 worth $1902.28
      Dividend 2010 TWO X $0.32 = $643.20
      Net SBY + cash worth $1902.28+643.20 = $2,545.48
      That is $2545.48 of $27,758.10 That is 9.17% dividend on that day
      BTW : TWO ex dividend could drop by $2545.48 / 2010 = $1.267 technically.
      It may or may not drop. Most short hate dividend. This run up may have caused by covering short before ex-dividend day. So It could go up from now to ex-dividend day.

      Sentiment: Strong Buy

      • 1 Reply to sonetirot
      • While I appreciate the math exercise, the price of TWO or SBY on 3/28 are not known at this time, so this is all speculation. Lots of assumptions, ifs, maybes, and could bes. As of 3/17/13, there were 300,722,420 shares of TWO common stock issued, but that was before the 50K+ SPO, so I am not even certain as to exactly how many shares there are out there at this time. Bottom line, we KNOW that we will get 0.32/share of TWO. That is about all that is certain.

    • hawkster654,
      If you go to the website of TWO and the March 18th press release it says...

      Special Dividend of Silver Bay Common Stock

      Two Harbors previously announced it received 17,824,647 shares of Silver Bay common stock, par value $0.01 per share (the “Silver Bay Common Stock”), in exchange for contributing its portfolio of over 2,200 single family homes to Silver Bay concurrent with the closing of Silver Bay’s initial public offering in December of 2012. Silver Bay’s common stock is listed on the New York Stock Exchange under the symbol “SBY.”

      The special committee of the company’s board of directors has declared a special dividend (the “Stock Dividend”) pursuant to which the Silver Bay Common Stock will be distributed, on a pro rata basis, to Two Harbors stockholders of record at the close of business on April 2, 2013 (the “Record Date”). As of March 17, 2013, there were 300,722,420 shares of company common stock issued and outstanding.
      If you do the math, it comes out to 16.87 shares of TWO earns one share of SBY.
      Another way to calculate how many shares you would receive...
      take your number of shares of TWO and multiply by...

      if you have 1000 shares of TWO you get 59 shares of SBY

10.45+0.04(+0.38%)Mar 5 4:04 PMEST

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