American Capital Agency (AGNC) cuts its dividend by $0.25 to $0.80 per share. Annualized, it's a 13.5% yield based on today's close of $23.79.
The company also announces it's repurchased 11.9M shares thus far in Q3 - about 3% of the float - at an average price of $22.16.
Is the dividend cut more than priced in? Share are up marginally AH.