SmarterDividends
TWO

Two Harbors Investment Corp

TWO

Real Estate · REIT - Mortgage · Stock · quarterly payer

$12.18

Undervalued · +146% Add to Portfolio

Forward Yield

11.17%

Annual Dividend

$1.36

Payout Ratio

76%

5-Yr Growth

-4.0%

Ex-Date

Aug 24, 2026

Frequency

Quarterly

Key facts about TWO's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 27, 2026, Two Harbors Investment Corp (TWO) has a forward dividend yield of 11.17%, based on an annual dividend of $1.36 per share and a share price of $12.18.
  • As of Oct 27, 2026, TWO's dividend safety grade from SmarterDividends is D (40 out of 100), which rates the dividend as unsafe.
  • TWO last cut its regular dividend in 2025.
  • TWO's most recent ex-dividend date was Jul 2, 2026, for a dividend of $0.34 per share.
  • As of Oct 27, 2026, TWO pays out 76% of its trailing 12-month earnings as dividends (its payout ratio).
  • TWO's dividend has shrunk at an average rate of 4.0% a year over the past five years.
  • As of Oct 27, 2026, SmarterDividends' blended fair-value estimate for TWO is $30.00 per share, 146% above the $12.18 share price, so TWO screens as undervalued.
  • Two Harbors Investment Corp (TWO) pays its dividend quarterly, 4 times a year.
  • Two Harbors Investment Corp (TWO) has raised its regular dividend 12 times and cut it 12 times across the 68 payments on record since 2009. Its most recent change was a 12.8% cut to $0.340 per share, going ex-dividend on Oct 3, 2025.
Cite this page

SmarterDividends, "TWO Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 27, 2026, https://smarterdividends.com/stocks/TWO

Summary

As of Oct 27, 2026, Two Harbors Investment Corp (TWO) yields 11.17% ($1.36 a year per share) and has a dividend safety grade of D (40/100).

Is TWO a good dividend stock?

Higher risk

Two Harbors Investment Corp (TWO) pays a quarterly dividend yielding 11.17% ($1.36/yr), with 0 years of growth and a dividend-safety grade of D. Treat the dividend with caution — recent cuts, a stretched payout or a falling price raise the risk.

Advantages

    Risks

    • Cut its dividend in 2025
    • Dividend has been shrinking, not growing
    • Very high yield can signal elevated risk
    • Below-average dividend safety score

    Key Data

    Dividend Yield
    11.17%
    Payout Ratio
    76%
    Annual Dividend
    $1.36
    5-Yr Avg Growth
    -4.0%
    Ex-Dividend Date
    Aug 24, 2026
    Years of Growth
    0
    Frequency
    quarterly
    Beta
    1.05
    Market Cap
    $1.3B
    P/E Ratio
    —
    5-Yr Total Return
    —
    52-Week Range
    $8.78 – $14.17
    Dividend Safety
    D · 40/100
    Ever Cut?
    Yes (2025)

    TWO dividend raises and cuts

    Two Harbors Investment Corp (TWO) has raised its regular dividend 12 times and cut it 12 times across the 68 payments on record since 2009. Its most recent change was a 12.8% cut to $0.340 per share, going ex-dividend on Oct 3, 2025.

    Ex-dateChangeOld → newMove
    Oct 3, 2025Cut$0.390 → $0.340−12.8%
    Jul 3, 2025Cut$0.450 → $0.390−13.3%
    Jul 3, 2023Cut$0.600 → $0.450−25.0%
    Jan 4, 2023Cut$0.680 → $0.600−11.8%
    Dec 29, 2020Raise$0.560 → $0.680+21.4%
    Jun 29, 2020Raise$0.200 → $0.560+180.0%
    Apr 15, 2020Cut$1.60 → $0.200−87.5%
    Jun 28, 2019Cut$1.88 → $1.60−14.9%
    Dec 28, 2018Raise$1.25 → $1.88+50.6%
    Sep 28, 2018Raise$0.632 → $1.25+97.5%
    Jul 24, 2018Cut$1.88 → $0.632−66.4%
    Dec 22, 2017Raise$1.70 → $1.88+10.4%
    Show all 24 changes since 2010
    Ex-dateChangeOld → newMove
    Jun 28, 2017Raise$1.64 → $1.70+4.0%
    Mar 29, 2017Raise$1.57 → $1.64+4.2%
    Dec 28, 2016Raise$1.51 → $1.57+4.3%
    Mar 29, 2016Cut$1.70 → $1.51−11.5%
    Dec 24, 2013Cut$1.83 → $1.70−7.1%
    Sep 24, 2013Cut$2.03 → $1.83−9.7%
    Jun 26, 2013Cut$2.10 → $2.03−3.1%
    Mar 28, 2013Cut$3.36 → $2.10−37.5%
    Dec 27, 2012Raise$2.44 → $3.36+37.5%
    Dec 15, 2010Raise$2.38 → $2.44+2.6%
    Sep 28, 2010Raise$2.01 → $2.38+18.2%
    Jun 28, 2010Raise$1.59 → $2.01+26.9%
    Every TWO payment →Download every raise and cut (CSV)
    TWO ex-dividend date & scheduleNext ex-date Aug 24, 2026 · full ex-dividend historyView →TWO dividend historyEvery payment, totals by year, raises and cutsView →

    Frequently Asked Questions

    Is TWO a good dividend stock?

    Higher risk. Two Harbors Investment Corp (TWO) pays a quarterly dividend yielding 11.17% ($1.36/yr), with 0 years of growth and a dividend-safety grade of D. Treat the dividend with caution — recent cuts, a stretched payout or a falling price raise the risk.

    Is TWO undervalued?

    Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, TWO's fair value is about $30.00 versus a $12.18 share price — so it looks undervalued (+146% vs. fair value).

    Is TWO's dividend safe?

    TWO has a dividend-safety grade of D (40/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2025, debt and yield-versus-history.

    What is TWO's fair value?

    Our blended fair-value estimate for TWO is about $30.00 per share, roughly 146% above the current $12.18 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

    Is TWO a buy, hold, or sell?

    We don't issue formal ratings, but on the data TWO screens as "higher risk" and undervalued. Two Harbors Investment Corp (TWO) pays a quarterly dividend yielding 11.17% ($1.36/yr), with 0 years of growth and a dividend-safety grade of D. Treat the dividend with caution — recent cuts, a stretched payout or a falling price raise the risk. This is research for your own analysis, not investment advice.

    Will TWO cut its dividend?

    TWO earns a dividend-safety grade of D (40/100), and has cut its dividend before (last in 2025). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

    Does TWO pay a dividend?

    Yes. Two Harbors Investment Corp pays a quarterly dividend of about $1.36 per share annually, a forward yield of roughly 11.17%.

    What is TWO's dividend yield?

    As of Oct 27, 2026, TWO's forward dividend yield is 11.17%, based on a $1.36 annual dividend and a $12.18 share price.

    What is TWO's dividend per share?

    As of Oct 27, 2026, TWO pays $1.36 per share per year, distributed on a quarterly basis.

    What is TWO's dividend payout ratio?

    As of Oct 27, 2026, TWO's payout ratio is 76% of trailing 12-month earnings — a moderate level that's generally sustainable.

    How many years has TWO grown its dividend?

    TWO does not currently have a long dividend-growth streak on record.

    When is the next TWO ex-dividend date?

    As of Oct 27, 2026, TWO's next ex-dividend date hasn't been announced. The most recent was Jul 2, 2026, for $0.34 per share.

    Income Calculator

    At $1.36 / yr per share

    Per payment (quarterly)$34.00
    Annual$136.00
    Monthly avg$11.33

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