Western Asset Mortgage Capital Corporation announces a dividend of US$0.06 per share for the fourth quarter; announcing its focus on residential real estate related investments – QNT Press Release


Western Asset Mortgage Capital Corporation (“Company”) (NYSE stock code:World Management Center) Announced today that its board of directors has declared a cash dividend of $0.06 per share for the fourth quarter of 2021. Today’s dividend will be paid on January 26, 2022 to common shareholders of record as of December 31, 2021, ex-dividend on December 30, 2021.

In addition, the company estimates that its GAAP book value per share as of November 30, 2021 is approximately $3.31. The estimated GAAP book value as of November 30, 2021 has not been audited, has not been verified or reviewed by our external auditors, and is subject to normal quarterly reconciliation and other procedures. In addition, the estimated book value is as of November 30, 2021, excluding the dividend announced today. The book value of GAAP fluctuates with market conditions, company operating performance and other factors. The company’s current GAAP book value may differ materially from its estimated GAAP book value on November 30, 2021.

Business update

The company provides the following business updates.

The company announced that, after negotiation with its manager, Western Asset Management Company, LLC (the “Manager”), it intends to focus on residential real estate related investments, including but not limited to non-qualified mortgage loans, non-agent RMBS, and other related investments. The company believes that this focus will enable it to seize attractive market opportunities while remaining consistent with the core competitiveness of the management company. The portfolio transition is expected to be completed in the next 12-18 months. The company plans to transition out of business investments in its portfolio, although it may conduct business from time to time…

The full story can be found on Benzinga.com


Source link

Recommended For You

About the Author: News Center