Western Asset Mortgage Capital (NYSE:WMC) has elected to stick to its existing dividend policy. The real estate investment trust has declared a distribution of $0.90 per share for its third quarter, to be paid on October 29 to shareholders of record as of September 30. That amount matches the company's previous disbursement, which was paid at the end of July. Prior to that, Western Asset was more generous by $0.05, handing out $0.95 per share.
The REIT has been paying quarterly dividends consistently since first declaring them in July 2012. That payout has ranged from $0.38 to $0.95 per share.
The just-declared distribution annualizes to $3.60 per share. That yields 21.4% at Western Asset's most recent closing stock price of $16.85.
Fool contributor Eric Volkman has no position in Western Asset Mortgage Capital, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.