Thornburg Mortgage Declares Third Quarter Preferred Dividend of $0.50.SANTA FE, N.M. -- Thornburg Mortgage, Inc. (NYSE NYSE See: New York Stock Exchange : TMA TMA Turnaround Management Association TMA Texas Medical Association TMA Transportation Management Association TMA Training and Management Assistance (a component of OHRD, which is a component of OWR) TMA Tooling & Manufacturing Association and TMA PRC) announced a third quarter dividend of $0.50 per share on its 8.00% Series C Cumulative Redeemable Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . This dividend will be payable on October 16, 2006 to preferred shareholders of record as of September 29, 2006. The ex-dividend date Ex-dividend date The first day of trading when the buyer of a stock is no longer entitled to the most recently announced dividend payment ( i.e. the trade will settle the day after the record date, too late for the buyer to appear on the shareholder record and receive the dividend. is September 27, 2006. Thornburg Mortgage is a leading single-family residential mortgage lender focused principally on the jumbo segment of the adjustable rate mortgage This article is about the US mortgage type. For an international perspective, see Variable rate mortgage. An adjustable rate mortgage (ARM) is a mortgage loan where the interest rate on the note is periodically adjusted based on an index. market. Backed by a balance sheet of $49.9 billion in high quality mortgage assets, the company seeks to deliver attractive dividend income and steady growth for its shareholders by acquiring high quality mortgage-backed securities Mortgage-backed securities (MSBs) Securities backed by a pool of mortgage loans. and growing its share of the mortgage loan origination business. Capitalizing on its innovative portfolio lending model, REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). tax structure and leading edge technology, Thornburg Mortgage is a highly efficient provider of specialized mortgage loan products for borrowers nationwide with excellent credit. We invite you to visit the company's website at www.thornburgmortgage.com. Thornburg Investment Management, a separate investment management company founded in 1982, advises a series of eight laddered-maturity bond mutual funds, four equity mutual funds and separately managed equity and fixed income portfolios for institutional and high net worth clients and sub-advisory services. Both companies share three core attributes: high quality operations, innovative strategies for achieving their goals, as well as a disciplined approach to managing and controlling risk. Certain matters discussed in this news release may constitute forward-looking statements within the meaning of the federal securities laws. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including general economic conditions, interest rates, the availability of ARM securities and loans for acquisition and other risk factors outlined in the company's SEC reports, including its annual report on Form 10-K. |
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