Anthracite Announces Dividend of $0.29 Per Share.NEW YORK--(BUSINESS WIRE)--Dec. 10, 1998--Anthracite Capital, Inc. (Anthracite) (NYSE NYSE See: New York Stock Exchange : AHR) today announced that its Board of Directors has declared a cash dividend of $0.29 per share of Common Stock for the fourth quarter of 1998. The dividend will be payable on January 15, 1999 to stockholders of record at the close of business on January 7, 1999. "We are pleased to provide our shareholders with a dividend that reflects the soundness of our strategies during a period of unusual market upheaval and volatility. We are encouraged by recent signs of stability and improved liquidity in the markets for commercial mortgage-backed securities and mezzanine debt. Notwithstanding some signs of a slowing economy, there has been no deterioration in real estate credit fundamentals and no discernible change in portfolio credit quality. While we are positive on Anthracite's operating environment and prospects for stable earnings, we remain cautious and intend to maintain a sizable liquidity position over the near term," said Hugh R. Frater Fra´ter n. 1. (Eccl.) A monk; also, a frater house. Frater house an apartament in a convent used as an eating room; a refectory; - called also a fratery ltname>. , President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Anthracite. Anthracite is a specialty finance company taxed as a REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). and externally managed by BlackRock, Inc., a New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. based investment manager with over $120 billion in global assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . BlackRock's parent, PNC Bank in Pittsburgh, originates commercial, multifamily and residential real estate loans and services over $27 billion in commercial mortgage loans for third parties through its Midland Loan Services subsidiary. Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Anthracite's actual results could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those detailed from time to time in Anthracite's reports and filings with the Securities and Exchange Commission. For further information, please contact Hugh Frater, President and Chief Executive Officer at 212-754-5535 or Richard Shea, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. and Chief Financial Officer at 212-754-5579, or visit Anthracite's website at http://ahr.blackrock.com. |
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