Anworth Mortgage Cuts Dividend
Sep 30th 2013 5:10PM
Updated Sep 30th 2013 5:12PM
In line with a recent trend in the REIT space, Anworth Mortgage Asset has shaved a few cents from its common stock dividend. The company declared a distribution of $0.12 per share for its Q3, to be paid on October 29 to shareholders of record as of October 10. That amount is $0.03, or 20%, lower than each of the firm's preceding four distributions of $0.15 apiece. The most recent of these was handed out at the end of July.
A number of well-known REITs have cut their payouts recently. Annaly Capital Management, for example, has enacted two consecutive reductions, while in mid-September American Capital Agency sliced its distribution by 24% from the previous level.
Anworth Mortgage's new dividend annualizes to $0.48 per share. That yields just under 10% at the firm's most recent closing stock price of $4.83.
The article Anworth Mortgage Cuts Dividend originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned, 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.