Stock Alert: Invesco Mortgage Capital Falls 52%

(RTTNews) - Shares of Invesco Mortgage Capital Inc. (IVR) are falling almost 52 percent in Tuesday's trading at $2.57. The shares have traded in a range of $2.75 to $18.30 in the past 52 weeks.

Invesco Mortgage said that due to the turmoil in the financial markets resulting from the coronavirus pandemic, the company and its subsidiaries have received an unusually high number of margin calls from financing counterparties in recent weeks.

Through Friday March 20, the company had timely met all margin calls received. However, on Monday, the company notified its financing counterparties that it was not in a position to fund the margin calls it received that day. The company also does not expect to be able to fund the anticipated volume of future margin calls under its financing arrangements in the near term.

In order to preserve liquidity, the company will delay the payment of its previously announced quarterly cash dividends, including on its common stock. The company has engaged Alston & Bird LLP as legal counsel and FTI LLC as financial advisor in connection with its financings and related matters.