Western Asset adds special payout to Q4 dividend; +4.8% AH

|About: Western Asset Mortgage C... (WMC)|By:, SA News Editor

Western Asset Mortgage (WMC) declares a combined Q4 and year-end dividend of $2.35 per share, payable in a combination of cash and stock. Shareholders can elect which  to choose - should the cash portion be oversubscribed, each shareholder will get a pro-rata combination, with the cash component no less than $0.80 per share. Last quarter's dividend was $0.90.

The dividend is payable on January 28 to holders of record on December 30.

November 30 book value is estimated at $16.76 per share - today's close of $15.92 puts the stock at a relatively slim (for the beaten-up mREIT sector) 5% discount to book.

Shares +4.8% AH to $16.69