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Cherry Hill Mortgage Investment cuts Q3 dividend, authorizes buybacks

Cherry Hill Mortgage Investment Corp.'s board declared a third-quarter dividend of 40 cents per share, down from the previous payout of 49 cents per share.

The dividend is payable Oct. 29 to shareholders of record as of Sept. 30.

The board also authorized Cherry Hill to repurchase up to $10 million of the company's outstanding common stock.

Repurchases may be made from time to time in open market transactions, in block purchases or otherwise over the next 12 months.