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CAPSTEAD MORTGAGE ANNOUNCES INCREASE IN DIVIDEND

 CAPSTEAD MORTGAGE ANNOUNCES INCREASE IN DIVIDEND
 DALLAS, March 12 /PRNewswire/ -- Capstead Mortgage Corporation


(NYSE: CMO) announced today that it will pay quarterly dividends of 76 cents per common share and 40 cents per share on the $1.60 cumulative preferred stock, Series A on March 31, 1992, to stockholders of record as of March 23.
 In commenting on the dividend increase, Ronn Lytle, president, said, "The first quarter dividend is 27 percent higher than the dividend for the same period in 1991 and represents the fifth consecutive quarterly dividend increase."
 Lytle went on to say, "Operating results continue to benefit from increased purchase volume of first mortgage loans and favorable short- term borrowing costs. Loan purchases could reach $1.4 billion in the first quarter and CMO issuances will be $1.175 billion. Both purchases and CMO issuances will be a record for any quarter. The recent rise in mortgage rates has had only a modest effect, thus far on commitment volume," he said.
 The company also announced that it had recently priced a $275 million CMO (Series 1992-V) for closing on April 30, 1992. The company's 30-year, fixed-rate, jumbo first mortgage loans will be used to collateralize the CMO.
 Capstead Mortgage Corporation invests in long-term, single-family residential mortgages for the purposes of offering investors the opportunity to participate in the income generated from the management of a portfolio of mortgage loans utilizing pooling and the issuance of CMOs and other portfolio management strategies. It is managed by Capstead Advisers, a subsidiary of Lomas Mortgage USA.
 -0- 3/12/92
 /CONTACT: Ronn Lytle, 214-746-8231, or Andy Jacobs, 214-746-8240, both of Capstead Mortgage/
 (CMO) CO: Capstead Mortgage Corporation ST: Texas IN: FIN SU: DIV


CK -- NY024 -- 7686 03/12/92 10:14 EST
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Publication:PR Newswire
Date:Mar 12, 1992
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