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Anworth Mortgage Asset Corporation (NYSE: ANH) has declared a $0.05 quarterly common stock dividend for the fourth quarter of 2020. The dividend will be payable on January 29, 2021 to stockholders of record as of December 31, 2020. Anworth operates as an externally-managed mortgage REIT, primarily investing in investment-grade mortgage-backed securities. The company aims to generate income for shareholders by balancing yields on mortgage assets against borrowing costs.
Ready Capital and Anworth Mortgage Asset Corporation have announced a merger agreement to combine their operations. This strategic merger aims to create a pro forma equity capital base exceeding $1 billion, enhancing shareholder liquidity and operational leverage. Each share of Anworth will convert into 0.1688 shares of Ready Capital common stock and $0.61 in cash, resulting in an implied offer price of $2.94 per share. Ready Capital shareholders will hold approximately 76% of the merged entity, set to operate under the Ready Capital name on the NYSE.
Anworth Mortgage Asset Corporation (NYSE: ANH) announced the declaration of dividends for its preferred stock for Q4 2020. The Series A Cumulative Preferred Stock will pay $0.539063 per share, while the Series B Cumulative Convertible Preferred Stock will pay $0.390625 per share. The Series C Cumulative Redeemable Preferred Stock dividend is set at $0.476563 per share. All dividends are payable on January 15, 2021, to shareholders on record as of December 31, 2020. These dividends reflect earnings from October 1, 2020, to December 31, 2020.
Anworth Mortgage Asset Corporation (NYSE: ANH) reported its third-quarter 2020 results, ending September 30, with core earnings of $3.6 million ($0.04 per share) and GAAP net income of $19.6 million ($0.20 per share). Comprehensive income reached $26.2 million ($0.26 per share). The company’s portfolio rose to $2.99 billion, with Agency MBS accounting for 78.1%. Book value per share increased to $3.04, marking a return on book value of 8.4% for the quarter. A quarterly dividend of $0.05 per share was declared, reflecting a 12.2% annualized yield based on the September 30 closing price of $1.64.
Anworth Mortgage Asset Corporation (NYSE: ANH) will release its Q3 2020 financial results on November 3, 2020, at the close of NYSE trading. CEO Joe McAdams will host a conference call on November 4, 2020, at 1:00 PM ET to discuss these results. Interested participants can join the call by dialing (833) 312-1359 for U.S. callers or (236) 712-2459 for international callers. A replay will be available for seven days following the call. Anworth primarily invests in investment-grade mortgage-backed securities and aims to generate income for shareholders based on the yield from mortgage assets.
Anworth Mortgage Asset Corporation (NYSE: ANH) has announced an increase in the conversion rate of its 6.25% Series B Cumulative Convertible Preferred Stock from 6.0021 shares to 6.1874 shares of common stock, effective October 1, 2020. This adjustment follows the declaration of a quarterly common stock dividend of $0.05 per share, payable on October 29, 2020, to shareholders on record as of September 30, 2020. The increase in the conversion rate is triggered by the dividend yielding over 6.25%.