---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-080919"
form_type: "8-K"
ticker: "TWO"
cik: "0001465740"
company_name: "TWO HARBORS INVESTMENT CORP."
filed_at: "2025-08-20T23:59:59+00:00"
generated_at: "2026-05-17T11:08:09.589846+00:00"
event_type: "litigation"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Two Harbors settles Pine River litigation for $375M, declares Q3 dividend $0.34/share

## Summary
- Resolved all claims with Pine River for a one-time cash payment of $375M, payable within 30 days.
- Estimated book value per common share of $12.73 as of Aug 15, 2025; adjusted to $11.06 after settlement.
- Signed term sheet with new subservicing client, adding ~$20B UPB in MSR; third-party subservicing rises to $31B.
- Declared Q3 2025 common dividend of $0.34 per share, payable Oct 29 to holders of record Oct 3.
- Preferred dividends declared: Series A $0.50781, B $0.47656, C $0.61250, payable Oct 27.

## SEC filing metadata
- accession: 0001104659-25-080919
- form_type: 8-K
- ticker: TWO
- cik: 0001465740
- company_name: TWO HARBORS INVESTMENT CORP.
- filed_at: 2025-08-20T23:59:59+00:00
- event_type: litigation
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1465740/000110465925080919/0001104659-25-080919-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1465740/000110465925080919/tm2523885d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-080919
- JSON: https://secwatch.observer/filing/0001104659-25-080919.json
- Plain text: https://secwatch.observer/filing/0001104659-25-080919.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.