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In line with a recent trend in the REIT space, Anworth Mortgage Asset (NYSE: ANH ) 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 (NYSE: NLY ) , 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.