Ellington Financial Announces Estimated Book Value Per Common Share as of June 30, 2024

Rhea-AI Summary

Ellington Financial Inc. (NYSE: EFC) has announced its estimated book value per share of common stock as of June 30, 2024. The company reported a book value of $13.92 per share, which includes the effect of the previously announced monthly dividend of $0.13 per share. This dividend is payable on July 25, 2024, to shareholders of record as of June 28, 2024. The ex-dividend date remains the same as the record date.

Positive

• Maintained consistent monthly dividend of $0.13 per share
• Provided timely update on estimated book value per share

Negative

• None.

Insights

Financial Analyst

Ellington Financial's announcement of its estimated book value per share provides a important snapshot of the company's financial health. At $13.92 per share as of June 30, 2024, this figure serves as a key metric for investors to gauge the company's intrinsic value.

The inclusion of the $0.13 monthly dividend in this estimate is noteworthy. It demonstrates the company's commitment to shareholder returns while maintaining a stable book value. This consistency in dividend payments, especially in the face of potential market volatility, could be seen as a positive sign for income-focused investors.

However, it's important to note that this is an estimated book value. The use of estimates suggests that there might be some level of uncertainty or potential for adjustment in the final figures. Investors should be cautious and wait for the official financial reports for a more comprehensive view of the company's financial position.

The stability in book value, if maintained in the official reports, could indicate effective risk management and asset allocation strategies by Ellington Financial. This is particularly relevant in the current economic climate, where interest rate fluctuations and market uncertainties can significantly impact financial companies.

For context, investors should compare this estimated book value with previous quarters and industry peers to get a better sense of Ellington Financial's relative performance and trajectory. Additionally, it would be prudent to analyze the composition of the company's asset portfolio and any changes in leverage or risk exposure that might have influenced this book value estimate.

OLD GREENWICH, Conn.--(BUSINESS WIRE)-- Ellington Financial Inc. (NYSE: EFC) (the "Company") today announced its estimated book value per share of common stock of $13.92 as of June 30, 2024. This estimate includes the effect of the previously announced monthly dividend of $0.13 per share of common stock, payable on July 25, 2024 to holders of record on June 28, 2024, with the same ex-dividend date.

Cautionary Statement Regarding Forward-Looking Statements

Estimated book value per common share is subject to change upon completion of the Company's month-end and quarter-end valuation procedures relating to its investment positions, and any such change could be material. There can be no assurance that the Company's estimated book value per common share as of June 30, 2024 is indicative of what the Company's results are likely to be for the three- or six month periods ending June 30, 2024 or in future periods, and the Company undertakes no obligation to update or revise its estimated book value per common share prior to issuance of financial statements for such periods.

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve numerous risks and uncertainties. The Company's actual results may differ from its beliefs, expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements are not historical in nature and can be identified by words such as "believe," "expect," "anticipate," "estimate," "project," "plan," "continue," "intend," "should," "would," "could," "goal," "objective," "will," "may," "seek" or similar expressions or their negative forms, or by references to strategy, plans, or intentions. Forward-looking statements are based on our beliefs, assumptions and expectations of our future operations, business strategies, performance, financial condition, liquidity and prospects, taking into account information currently available to us. These beliefs, assumptions, and expectations are subject to risks and uncertainties and can change as a result of many possible events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations and strategies may vary materially from those expressed or implied in our forward-looking statements. The following factors are examples of those that could cause actual results to vary from our forward-looking statements: changes in interest rates and the market value of the Company's investments, market volatility, changes in mortgage default rates and prepayment rates, the Company's ability to borrow to finance its assets, changes in government regulations affecting the Company's business, the Company's ability to maintain its exclusion from registration under the Investment Company Act of 1940, the Company's ability to achieve cost savings and efficiencies, operating efficiencies, synergies and other benefits, including the increased scale, and avoid potential business disruption from its completed merger with Arlington Asset Investment Corp.; the Company's ability to maintain its qualification as a real estate investment trust, or "REIT," and other changes in market conditions and economic trends, such as changes to fiscal or monetary policy, heightened inflation, slower growth or recession, and currency fluctuations. Furthermore, forward-looking statements are subject to risks and uncertainties, including, among other things, those described under Item 1A of the Company's Annual Report on Form 10-K, which can be accessed through the Company's website at www.ellingtonfinancial.com or at the SEC's website (www.sec.gov). Other risks, uncertainties, and factors that could cause actual results to differ materially from those projected or implied may be described from time to time in reports the Company files with the SEC, including reports on Forms 10-Q, 10-K and 8-K. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

This release and the information contained herein do not constitute an offer of any securities or solicitation of an offer to purchase securities.

About Ellington Financial

Ellington Financial invests in a diverse array of financial assets, including residential and commercial mortgage loans and mortgage-backed securities, reverse mortgage loans, mortgage servicing rights and related investments, consumer loans, asset-backed securities, collateralized loan obligations, non-mortgage and mortgage-related derivatives, debt and equity investments in loan origination companies, and other strategic investments. Ellington Financial is externally managed and advised by Ellington Financial Management LLC, an affiliate of Ellington Management Group, L.L.C.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240729654308/en/

Investors:

Ellington Financial

Investor Relations

(203) 409-3575

info@ellingtonfinancial.com



or



Media:

Amanda Shpiner/Grace Cartwright

Gasthalter & Co.

for Ellington Financial

(212) 257-4170

ellington@gasthalter.com

Source: Ellington Financial

FAQ

What is Ellington Financial's (EFC) estimated book value per share as of June 30, 2024?

Ellington Financial (EFC) announced an estimated book value of $13.92 per share of common stock as of June 30, 2024.

When will Ellington Financial (EFC) pay its next dividend?

Ellington Financial (EFC) will pay its next monthly dividend of $0.13 per share on July 25, 2024, to shareholders of record as of June 28, 2024.

What is the ex-dividend date for Ellington Financial's (EFC) July 2024 dividend?

The ex-dividend date for Ellington Financial's (EFC) July 2024 dividend is the same as the record date, which is June 28, 2024.

How much is Ellington Financial's (EFC) monthly dividend per share for July 2024?

Ellington Financial's (EFC) monthly dividend for July 2024 is $0.13 per share of common stock.