Western Asset Mortgage Capital (WMC -0.81%) has opened its coffers for a fresh dividend. The company will distribute $0.95 per share of its stock on April 12 to shareholders of record as of April 10. This is $0.05, or 6%, higher than the $0.90 the firm dispensed in its most recent regular quarterly payout this past January, although it also passed along a $0.22-per-share additional dividend at that time.
Prior to that, the company handed out $0.85 per share in September and $0.38 the previous month.
The new dividend annualizes to $3.80 per share. That yields 16.3% at Western Asset Mortgage Capital's current stock price of $23.29.