Anworth Mortgage Cuts Dividend

The REIT reduces its payout by 20%.

Eric Volkman
Eric Volkman
Sep 30, 2013 at 5:10PM

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, 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.