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CAPSTEAD MORTGAGE CORPORATION ANNOUNCES COMMON DIVIDEND INCREASE

 DALLAS, Dec. 8 /PRNewswire/ -- Capstead Mortgage Corporation (NYSE: CMO) marked its 12th consecutive common dividend increase with the announcement today that the company will pay fourth quarter dividends of 96 cents per common share, 40 cents per share on the $1.60 cumulative preferred stock, Series A, and a regular monthly dividend of 10.5 cents per share on the $1.26 cumulative convertible preferred stock, Series B. Stockholders of record as of December 20 will receive dividend payments on Dec. 31, 1993.
 In commenting on the dividend increase, Ronn K. Lytle, chairman and chief executive officer, said, "The common dividend is 12 percent higher than the fourth quarter dividend in 1992, and represents an expected increase in operating results as a result of continuing favorable short- term borrowing costs, an increase in mortgage purchase volume and gains from securitization activities. Purchase volume in the fourth quarter is expected to exceed $1.5 billion compared to $1.2 billion in the third quarter of 1993, and $1.3 billion in the fourth quarter of 1992."
 Capstead Mortgage Corporation invests in long-term, single-family residential mortgage loans offering investors the opportunity to participate in the income generated from servicing and investing in such mortgage loans, securitization activities and other portfolio strategies.
 -0- 12/8/93
 /CONTACT: Ronn K. Lytle, 214-999-2301, or Andrew F. Jacobs, 214-999-2350, both of Capstead Mortgage Corporation/
 (CMO)


CO: Capstead Mortgage Corporation ST: Texas IN: FIN SU: DIV

CK -- NY065 -- 1772 12/08/93 12:35 EST
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Publication:PR Newswire
Date:Dec 8, 1993
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