Management of this company is unbelievable. There is no way fixing the FS should take this long. The company has not reported anything since 9/30/11. And before you pumpers start talking about the press release on BV or economic value per share that is crap.
I agree that it seems to be taking a long time to do restatements. There's been a lot of speculation as to how the matter will turn out, so let me contribute a guess of my own. I suspect that the delay is caused by negotiation with FASB on the finer points of the valuation of non-agency RMBS and related derivatives. CIM does not want to find itself restating the restatements.
The accounting issues causing the restatement are unrelated to taxable income, which determines dividends. Taxable income is calculated according to IRS form 1120-REIT, which is driven primarily by cash earnings, not mark-to-market valuations.
Lastly, I would not be surprised to learn that the $0.09 per share quarterly dividend understated taxable earnings for the year, and was supplemented by an additional few cents during Jan 2013.