Capstead Mortgage Corporation Declares Dividends on Its Preferred Stocks
DALLAS--(BUSINESS WIRE)-- The Board of Directors of Capstead Mortgage Corporation (CMO) announced today that it will pay the regular quarterly dividend of $0.40 per share on the $1.60 Cumulative Preferred Stock, Series A (NYSE: CMOPRA). The dividend is payable on September 28, to stockholders of record as of September 19, 2012.
The Board of Directors also declared the regular monthly dividends of $0.105 per share for September, October and November on the $1.26 Cumulative Convertible Preferred Stock, Series B (NYSE: CMOPRB). The September dividend is payable on September 28, to stockholders of record as of September 19, 2012. The October dividend is payable on October 31, to stockholders of record as of October 18, 2012. The November dividend is payable on November 30, to stockholders of record as of November 21, 2012.
Holders of the Series A and B preferred shares may convert into shares of the Company's common stock at any time; however, currently it is not economically advantageous for the Series B stockholders to do so. Each Series A Preferred share is currently convertible into 1.6574 shares of common stock. Each Series B Preferred share is currently convertible into 0.6403 shares of common stock.
Any conversion requested after one or more preferred record dates within the quarter and on or before the record date for the quarterly common stock dividend will require payment to the Company of all preferred share dividends declared and paid for the corresponding quarter.
Capstead Mortgage Corporation, formed in 1985 and based in Dallas, Texas, is a self-managed real estate investment trust for federal income tax purposes. Capstead earns income from investing in a leveraged portfolio of residential mortgage pass-through securities consisting of adjustable-rate mortgage (ARM) securities issued and guaranteed by government-sponsored enterprises, either Fannie Mae or Freddie Mac, or by an agency of the federal government, Ginnie Mae.
Capstead Mortgage Corporation
Kelly Sargent, 214-874-2339
Source: Capstead Mortgage CorporationCopyright Business Wire 2012