Capstead Mortgage Corporation Declares First Quarter 2021 Common Dividend of $0.15 Per Share and Series E Preferred Dividend of $0.46875 Per Share and Announces February 28, 2021 Book Value of $6.68 Per Common Share

Rhea-AI Summary

Capstead Mortgage Corporation (CMO) has declared a Q1 2021 common dividend of $0.15 per share, payable on April 20, 2021 to shareholders on record by March 31, 2021. Additionally, a dividend of $0.46875 per share on its 7.50% Series E Preferred Stock will be paid on April 15, 2021. The estimated book value as of February 28, 2021, is $6.68 per common share. This unverified estimate does not account for quarter earnings or dividends and may vary significantly due to market fluctuations.

Positive

• Common dividend of $0.15 per share enhances shareholder income.
• Preferred stock dividend of $0.46875 supports Series E investors.

Negative

• Unaudited book value of $6.68 may fluctuate significantly.
• Dividend payment obligations may impact cash reserves.

Capstead Mortgage Corporation (NYSE: CMO) (“Capstead” or “The Company”) announced today that its Board of Directors has declared a first quarter 2021 common dividend of $0.15 per common share. The dividend is payable on April 20, 2021 to common stockholders of record as of March 31, 2021.

Capstead’s Board of Directors also declared a first quarter 2021 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE: CMOPRE). This dividend is payable on April 15, 2021 to Series E preferred stockholders of record as of March 31, 2021.

Concurrently, Capstead announced its estimated February 28, 2021 book value of $6.68 per common share. This book value estimate is unaudited, and does not include current quarter earnings or common dividends. Book value fluctuates with market conditions, operating results and other factors, and is subject to normal quarterly reconciliations and other procedures. Therefore, this estimate may be materially different today. The Company undertakes no obligation to update or revise its estimate of book value.

About Capstead

Formed in 1985 and based in Dallas, Texas, Capstead is a self-managed real estate investment trust, or REIT, for federal income tax purposes. The Company earns income from investing in a leveraged portfolio of primarily residential adjustable-rate mortgage pass-through securities, referred to as ARM securities, issued and guaranteed by government-sponsored enterprises, either Fannie Mae or Freddie Mac, or by an agency of the federal government, Ginnie Mae.

Cautionary Statement Concerning Forward-looking Statements

This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words “believe,” “anticipate,” “expect,” “estimate,” “intend,” “will be,” “will likely continue,” “will likely result,” or words or phrases of similar meaning. Actual results could differ materially from those projected in these forward-looking statements due to a variety of factors, without limitation, fluctuations in interest rates, the availability of suitable qualifying investments, changes in mortgage prepayments, the availability and terms of financing, changes in market conditions as a result of federal corporate and individual tax law changes, changes in legislation or regulation affecting the mortgage and banking industries or Fannie Mae, Freddie Mac or Ginnie Mae securities, the availability of new investment capital, the liquidity of secondary markets and funding markets, our ability to maintain our qualification as a REIT for U.S. federal tax purposes, our ability to maintain our exemption from registration under the Investment Company Act of 1940, as amended, and other changes in general economic conditions. These and other applicable uncertainties, factors and risks are described more fully in the Company’s filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date the statement is made and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Accordingly, readers of this document are cautioned not to place undue reliance on any forward-looking statements included herein.

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FAQ

What is the dividend amount declared by Capstead Mortgage for Q1 2021?

Capstead Mortgage declared a common dividend of $0.15 per share for Q1 2021.

When is the dividend payable to common stockholders?

The dividend is payable on April 20, 2021, to shareholders on record as of March 31, 2021.

What is the estimated book value of Capstead Mortgage as of February 28, 2021?

The estimated book value is $6.68 per common share as of February 28, 2021.

What is the dividend for Capstead's Series E Preferred Stock?

The dividend for the Series E Preferred Stock is $0.46875 per share.

When will the Series E Preferred Stock dividend be paid?

The dividend for the Series E Preferred Stock will be paid on April 15, 2021.