Anthracite Capital Announces Increase in Quarterly Dividend to $0.32 Per Share.Business Editors NEW YORK--(BUSINESS WIRE)--June 22, 2001 Dividends Increased 10% Over Prior Year Dividend Yield 11.9% 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 declared a second quarter 2001 cash dividend of $0.32 per share of common stock. The cash dividend will be payable on July 31, 2001 to shareholders of record at the close of business on June 29, 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 11.9% based upon the $10.80 closing price of Anthracite's common stock on June 21, 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 dividend policy is to pay a level of dividends that is sustainable and supported by GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). operating earnings. The positive effects of our recent equity raises and easings by the Federal Reserve have clearly increased operating earnings to the level that warrant a dividend increase. We will consider additional dividend actions as the sustainable level of GAAP operating earnings grows." With this latest dividend increase, the Company has increased dividends more than 10% over the past year. Anthracite has a dividend reinvestment plan Dividend Reinvestment Plan (DRP) Plan which provides for automatic reinvestment of shareholder dividends in more shares of a company's stock, often without commissions. Some plans provide for the purchase of additional shares at a discount to market price. that provides current owners of its common stock with a simple economical and convenient method of increasing their investment. Provided you are a current owner of Anthracite Stock, the Company's transfer agent can issue registered stock directly to you without commission or markup. This transaction can be done regardless of whether or not shares are held in street name. To take advantage of this program shareholders must submit a signed Request for Waiver to the Company. A printable version of the form is available on the Company's website or you can call or email the Company to obtain the Waiver and instructions. The Company's web site address is www.anthracitecapital.com. During the third quarter the Company plans to offer a discount to the trailing 12 business day averages provided the stock price remains above threshold levels established by the Company at the time. 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 BLK Black BLK Blank BLK Block BLK Bulk BLK Blocked Shot (basketball) BLK Blocked Kick (football) BLK Blackpool, England, United Kingdom - Blackpool (Airport Code) ) 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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