ARMOUR Residential REIT, Inc. Confirms July 2020 Dividend Rate per Common Share and Q3 2020 Monthly Dividend Rate per Series C Preferred Dividends

Rhea-AI Summary

ARMOUR Residential REIT announced its July 2020 cash dividend for Common Stock set at $0.10, payable on July 30, 2020, with a record date of July 15, 2020. The company also confirmed the Q3 2020 dividend for Series C Preferred Stock at $0.14583 for each month from July to September 2020, with record dates on the 15th and payment dates at the end of each month. ARMOUR is structured as a REIT, meaning it must distribute most earnings to maintain tax status. Current market conditions and operational performance will be considered in future dividend decisions.

Positive

• Consistent dividend payments demonstrate financial stability.
• July 2020 Common Stock dividend of $0.10 indicates income for shareholders.
• Q3 2020 Series C Preferred Stock dividends show ongoing commitment to preferred shareholders.

Negative

• None.

VERO BEACH, Florida, July 01, 2020 (GLOBE NEWSWIRE) -- ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR-PRC) (“ARMOUR” or the “Company”) today confirmed the July 2020 cash dividend for the Company's Common Stock and the Q3 2020 monthly cash dividend rate for the Company's Series C Preferred Stock.

July 2020 Common Stock Dividend Information

100%; border-collapse:collapse !important;">

21%; width:21%; min-width:21%;">Month	1%; width:1%; min-width:1%;">	20%; width:20%; min-width:20%;">Dividend	1%; width:1%; min-width:1%;">	35%; width:35%; min-width:35%;">Holder of Record Date	1%; width:1%; min-width:1%;">	21%; width:21%; min-width:21%;">Payment Date
July 2020		$0.10		July 15, 2020		July 30, 2020

Q3 2020 Series C Preferred Stock Dividend Information

100%; border-collapse:collapse !important;">

21%; width:21%; min-width:21%;">Month	1%; width:1%; min-width:1%;">	20%; width:20%; min-width:20%;">Dividend	1%; width:1%; min-width:1%;">	35%; width:35%; min-width:35%;">Holder of Record Date	1%; width:1%; min-width:1%;">	21%; width:21%; min-width:21%;">Payment Date
July 2020		$0.14583		July 15, 2020		July 27, 2020
August 2020		$0.14583		August 15, 2020		August 27, 2020
September 2020		$0.14583		September 15, 2020		September 28, 2020

Certain Tax Matters

ARMOUR has elected to be taxed as a real estate investment trust (“REIT”) for U.S. Federal income tax purposes. In order to maintain this tax status, ARMOUR is required to timely distribute substantially all of its ordinary REIT taxable income. Dividends paid in excess of current tax earnings and profits for the year will generally not be taxable to common stockholders. Actual dividends are determined at the discretion of the Company’s Board of directors, who may consider additional factors including the Company’s results of operations, cash flows, financial condition, capital requirements as well as current market conditions, expected opportunities and other relevant factors.

About ARMOUR Residential REIT, Inc.

ARMOUR invests primarily in fixed rate residential, adjustable rate and hybrid adjustable rate residential mortgage-backed securities issued or guaranteed by U.S. Government-sponsored enterprises (“GSEs”) or guaranteed by the Government National Mortgage Association. The Company has liquidated a substantial majority of its legacy portfolio of unguaranteed mortgage-backed securities. ARMOUR is externally managed and advised by ARMOUR Capital Management LP, an investment advisor registered with the Securities and Exchange Commission (“SEC”).

Safe Harbor

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. The Company disclaims any obligation to release publicly any updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

Additional Information and Where to Find It

Investors, security holders and other interested persons may find additional information regarding the Company at the SEC’s internet site at www.sec.gov, or the Company website at www.armourreit.com, or by directing requests to: ARMOUR Residential REIT, Inc., 3001 Ocean Drive, Suite 201, Vero Beach, Florida 32963, Attention: Investor Relations.

Investor Contact:            

James R. Mountain
Chief Financial Officer
ARMOUR Residential REIT, Inc.
(772) 617-4340

FAQ

What is the July 2020 dividend amount for ARMOUR Residential REIT?

The July 2020 dividend amount for ARMOUR Residential REIT's Common Stock is $0.10.

When is the payment date for ARMOUR Residential REIT's July 2020 dividend?

The payment date for the July 2020 dividend is July 30, 2020.

What are the dividends for Series C Preferred Stock in Q3 2020?

The dividends for Series C Preferred Stock in Q3 2020 are $0.14583 for each month from July to September.

When will the dividends for Series C Preferred Stock be paid?

The payment dates for Series C Preferred Stock dividends are July 27, August 27, and September 28 for the corresponding months.