Mortgage real estate investment trust (mREIT) Two Harbors (NYSE: TWO) has declared a set of new quarterly dividends, most notably for its common stock. Holders of that security will receive $0.14 per share from their company, payable on Oct. 29 to investors of record as of Oct. 1. At the current share price, this yields 10.9%. As Two Harbors is a mREIT, its profitability can vary widely from quarter to quarter. And since, as a REIT, it is required to distribute at least 90% of its net earnings as shareholder dividends, its payout can also fluctuate, often violently. That said, this new amount matches the previous distribution; before that, it was $0.05 per share, having been cut from the preceding $0.40. Image source: Getty Images. However, in a written announcement, the mREIT sounded an optimistic note about coming dividends: We believe that our portfolio is capable of generating future gross returns in the low-to mid-double digits, as we further deploy capital, increase leverage and reduce expenses ... As a result, we expect to be in a position to moderately increase our fourth quarter dividend to a level that reflects our economic return expectations, dependent on market conditions and actual results. It did not get more specific. mREITs -- which invest in mortgages rather than actual real estate, as do equity REITs -- have not necessarily been popular investments of late. Many investors are worried about widespread mortgage-payment defaults due to the economic damage wrought by the coronavirus pandemic. In late afternoon trading Tuesday, Two Harbors shares were up marginally but were being outpaced by the S&P 500 index. 10 stocks we like better than Two Harbors InvestmentWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Two Harbors Investment wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of August 1, 2020 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source