Agency mortgage real estate investment trust Capstead Mortgage announced this morning its second-quarter dividend of $0.31 per share, the same rate it paid last quarter.
The board of directors said the quarterly dividend is payable on July 19 to the holders of record at the close of business on June 28. The mREIT has made payouts to investors since 1990.
The board also announced an initial dividend of $0.32292 per share on the mREIT's 7.50% Series E cumulative redeemable preferred stock that trades on the NYSE under the symbol CMOPRE for the period between May 13 through July 14. The payout will be payable on July 15 to the holders of record on June 28.
The regular dividend payment equates to a $1.24-per-share annual dividend, yielding 9.9% based on the closing price of Capstead Mortgage's stock on June 12.
Capstead invests in mortgages issued and guaranteed by government-sponsored enterprises such as Fannie Mae and Freddie Mac, as well as government agencies like Ginnie Mae.
The article Capstead Mortgage Keeps Dividend Steady originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.