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 December 31, to stockholders of record as of December 19, 2012.
The Board of Directors also declared the regular monthly dividends of $0.105 per share for December, January and February on the $1.26 Cumulative Convertible Preferred Stock, Series B (NYSE: CMOPRB). The December dividend is payable on December 31, to stockholders of record as of December 19, 2012. The January dividend is payable on January 31, to stockholders of record as of January 18, 2013. The February dividend is payable on February 28, to stockholders of record as of February 18, 2013.
Effective September 30, 2012, each Series B Preferred share is convertible into 0.6407 shares of common stock. Effective October 1, 2012, each Series A Preferred share is convertible into 1.6584 shares of common stock. 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. 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