Anthracite Capital Increases Quarterly Dividend to $0.35 Per Share; Third Increase in One Year Raises Current Dividend Yield to 13.9%.Business Editors NEW YORK--(BUSINESS WIRE)--Dec. 12, 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 declared a fourth quarter 2001 cash dividend of $0.35 per share of common stock. The cash dividend will be payable on January 31, 2001 to shareholders of record on December 31, 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 13.9% based upon the $10.05 closing price of Anthracite's common stock on December 11, 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, "We are pleased that the strength of our operating earnings has enabled the Company to increase its common stock dividend for the third time in the past four quarters resulting in a 16% increase over prior year levels. Our long stated dividend policy is to declare dividends that we believe are sustainable over the long term and can be supported primarily by operating earnings. While we expect short term interest rates to trend upward over the coming year, we believe that the current level of declared dividend can be maintained as the Company takes steps to both reduce interest rate sensitivity and to increase the absolute yield on new investment assets." The Company also reported that it has invested or committed to invest 100% of the proceeds of its recent issuance of common stock completed on November 7, 2001. Proceeds were invested or committed to high yield CMBS CMBS See: Commercial Mortgage Backed Securities , coinvestments in commercial mezzanine loans and residential RMBS RMBS Residential Mortgage-Backed Securities RMBS Rambus, Inc. (NASDAQ stock symbol) RMBS Russian Mortgage-Backed Securities . Shareholder Information. 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. Even if you are not 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. The Company is currently offering a 2% discount to the trailing 12 business day averages provided the stock price remains above threshold levels established by the Company at the time. About Anthracite. 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) ) one of the largest publicly traded investment management firms in the United States with over $225 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 is a member of the PNC Financial Services PNC Financial Services (NYSE: PNC) is a U.S.-based financial services corporation, with assets of $92.0 billion. PNC operations include a regional banking franchise operating primarily in eight states and the District of Columbia, specialized financial businesses serving Group, Inc (NYSE:PNC) a diversified financial services organization. Through its affiliates, PNC 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. Forward Looking Statements. 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 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion