Rate gloom.Rising interest rates have forced Santa Monica-based Anworth Mortgage Asset Corp. to cut its quarterly dividends. Last week, Anworth declared de·clare v. de·clared, de·clar·ing, de·clares v.tr. 1. To make known formally or officially. See Synonyms at announce. 2. To state emphatically or authoritatively; affirm. 3. a quarterly dividend of 33 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , down from 38 cents in the previous quarter. In a statement, the real estate investment trust's chairman and chief executive, Lloyd McAdams This page may meet Wikipedia’s criteria for speedy deletion. The given reason is: It is an article about a person, group of people, band, club, company, or web content that does not assert the importance or significance of the subject. said: "Based on the prospects of a continued period of interest rate volatility, we remain conservative in the management of our portfolio." Anworth borrows and invests the money in mortgage-backed securities Mortgage-backed securities (MSBs) Securities backed by a pool of mortgage loans. . The interest-rate spread between its borrowings and its investments should contract as rates increase, said Advest vice president of research David Chiaverini. "They are what's called liability sensitive, which means their liabilities, their borrowings, re-price faster than earnings assets re-price," Chiaverini said. He rates the company "neutral." Anworth's stock was trading at $11.70 per share on July July: see month. 8, down 13.4 percent since the beginning of the year. |
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