Two Harbors Investment (TWO) will pay a Q3 stub period dividend of about $0.12 per common share, subject to the completion of its previously announced merger with CrossCountry Mortgage.

If closing occurs before market open Aug. 3, the dividend will be payable to shareholders of record as of July 31, Two Harbors said.

Should closing be delayed after Aug. 3, the dividend will be recalculated and will be paid to shareholders of record as of the day the last trading day immediately prior to the merger's completion, the company added.