Anthracite Capital Announces Cash Dividend of $0.30 Per Share; Dividend Yield 12.6%.Business Editors NEW YORK--(BUSINESS WIRE)--March 15, 2001 Anthracite Capital, Inc. (Anthracite) (NYSE NYSE See: New York Stock Exchange : AHR AHR Aryl Hydrocarbon Receptor AHR American Historical Review (Journal of the American History Association) AHR Anchor AHR airway hyper-responsiveness AHR Assisted Human Reproduction AHR Air-Conditioning Heating Refrigeration ) announced today that its Board of Directors has declared a first quarter 2001 cash dividend of $0.30 per share of common stock. The cash dividend will be payable on April 30, 2001 to shareholders of record at the close of business on March 30, 2001. The annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. dividend yield is 12.6% based upon the $9.56 closing price of Anthracite's common stock on March 14, 2001. Hugh 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 Chief Executive Officer of Anthracite stated, "Our longstanding policy has been to declare dividends that are clearly supported by GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). operating earnings. We increased the dividend in the fourth quarter of 2000 based on increased operating income. GAAP operating income can be increased by the successful redeployment, over the next several quarters, of the proceeds of our recent secondary offering of common stock. We may consider additional dividend increases as the level of GAAP operating income grows further." In regard to the secondary offering of Company common stock, the underwriter exercised their option to purchase 600,000 shares to cover over-allotments. This resulted in additional net proceeds to the Company of $5 million. Shareholders may elect to reinvest their dividends through Anthracite's Dividend Reinvestment and Stock Purchase Plan. Copies of the Dividend Reinvestment and Stock Purchase Plan Prospectus and enrollment materials may be obtained by contacting The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. (the Plan Administrator), at 1-800-524-4458 or Investor Relations, Anthracite Capital, Inc. at 212-409-3333. Anthracite Capital, Inc. is a specialty finance company focused on investments in high yield real estate loans and related securities. Anthracite is externally managed by BlackRock, Inc., (NYSE:BLK) 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 $200 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 based in Pittsburgh, originates commercial, multifamily and residential real estate loans, and services over $60 billion in commercial mortgage loans for third parties through its Midland Loan Services subsidiary. Note: 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. To learn more about Anthracite Capital, Inc., visit our website at www.anthracitecapital.com |
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