DALLAS – (BUSINESS WIRE) – Capstead Mortgage Corporation (NYSE: CMO) (“Capstead” or “the Company”) announced today that its board of directors has approved a common dividend of $ 0.15 per common share for the second quarter of 2021. The dividend is payable on July 20, 2021 to the ordinary shareholders of record as of June 30, 2021.
Capstead’s board of directors has also approved a dividend of $ 0.46875 per share for the second quarter of 2021 on its 7.50% cumulatively redeemable Series E preferred stock (NYSE: CMOPRE). This dividend is payable on July 15, 2021 to Series E preferred shareholders of record as of June 30, 2021.
At the same time, Capstead announced its estimated book value as of May 31, 2021 of $ 6.57 per common share. This book value estimate is unaudited and does not include the earnings for the current quarter or the joint dividends. The carrying amount will fluctuate with market conditions, operating results and other factors and is subject to normal quarterly reconciliations and other procedures. Therefore, this estimate can differ significantly today. The company assumes no obligation to update or revise its book value estimate.
Founded in 1985 and based in Dallas, Texas, Capstead is a self-managed real estate investment trust (REIT) for federal income tax purposes. The Company earns income by investing in a leveraged portfolio of predominantly floating rate residential pass-through mortgage securities, known as ARM Securities, from government sponsored companies, either Fannie Mae or Freddie Mac, or an agency of the Federal Government, Ginnie Mae.
Cautionary Note Regarding Forward-Looking Statements
This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statements that may predict, predict, indicate, or imply future results, performance or accomplishments, and may include the words “believe” “,” Anticipate, “” expect, “” estimate, “” intend, “” will, “” likely will continue, “” will likely result, “or contain words or expressions with similar meanings. Actual results could differ materially from those projected in these forward-looking statements due to a variety of factors including, but not limited to, fluctuations in interest rates, the availability of suitable qualifying investments, changes in mortgage prepayments, availability and financing terms, changes in market conditions due to changes in the state company – and individual tax law, legislative or regulatory changes affecting the mortgage and banking industry or Fannie Mae, Freddie Mac or Ginnie Mae securities, the availability of new investment capital, the liquidity of secondary markets and the financing markets, our ability, our qualifications as a REIT for US federal tax purposes, to maintain our ability to exercise our exemption from registration under the Investment Company Act of 1940, as amended, and other general economic changes conditions to be maintained. These and other applicable uncertainties, factors and risks are further described in the company’s filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of publication and the company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason. Accordingly, readers of this document are cautioned not to place undue reliance on the forward-looking statements contained herein.