I believe that the certainty that the dividend provides, (despite the $.02 drop) coupled with TWO going "ex-dividend on 12/27, will provide a lift to the stock price. (S closed yesterday at $9.19)
We shall see.....
Sentiment: Strong Buy
Despite a .02 decrease in dividend, stock still pays 11.2% based on current price. Still selling over 10% below NAV of $10.35
I have been pleasantly surprised at how little earnings erosion and dividend erosion TWO has experienced as mortgage rates have gone up.