Western Asset Mortgage Capital has opened its coffers for a fresh dividend. The company will distribute $0.95 per share of its stock on April 12 to shareholders of record as of April 10. This is $0.05, or 6%, higher than the $0.90 the firm dispensed in its most recent regular quarterly payout this past January, although it also passed along a $0.22-per-share additional dividend at that time.

Prior to that, the company handed out $0.85 per share in September and $0.38 the previous month.

The new dividend annualizes to $3.80 per share. That yields 16.3% at Western Asset Mortgage Capital's current stock price of $23.29. 

The article WAMC Bumps Quarterly Dividend originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in Western Asset Mortgage Capital, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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