Ellington Financial Declares Common and Preferred Dividends

Rhea-AI Summary

Ellington Financial (NYSE: EFC) announced several dividend declarations:

(i) A monthly dividend of $0.13 per share of common stock, payable on July 25, 2024 to common stockholders of record on June 28, 2024.

(ii) Quarterly dividends on preferred stock: $0.421875 per share for Series A, $0.390625 per share for Series B, $0.5390625 per share for Series C, $0.4375 per share for Series D, and $0.717053 per share for Series E.

The preferred dividends are payable on July 30, 2024, except for Series D and E which are payable on July 1, 2024, to stockholders of record on June 20, 2024 and June 28, 2024, respectively.

Positive

• Monthly common stock dividend of $0.13 per share declared.
• Series A preferred stock dividend of $0.421875 per share declared.
• Series B preferred stock dividend of $0.390625 per share declared.
• Series C preferred stock dividend of $0.5390625 per share declared.
• Series D preferred stock dividend of $0.4375 per share declared.
• Series E preferred stock dividend of $0.717053 per share declared.

Negative

• No information on changes in financial performance potentially impacting future dividends.
• No updates on company earnings or other financial metrics.

OLD GREENWICH, Conn.--(BUSINESS WIRE)-- Ellington Financial Inc. (NYSE: EFC) (the "Company") today announced that its Board of Directors has declared the following: (i) a monthly dividend of $0.13 per share of common stock, payable on July 25, 2024 to common stockholders of record as of June 28, 2024; (ii) a quarterly dividend of $0.421875 per share on the Company's 6.750% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, payable on July 30, 2024 to Series A preferred stockholders of record as of June 28, 2024; (iii) a quarterly dividend of $0.390625 per share on the Company's 6.250% Series B Fixed-Rate Reset Cumulative Redeemable Preferred Stock, payable on July 30, 2024 to Series B preferred stockholders of record as of June 28, 2024; (iv) a quarterly dividend of $0.5390625 per share on the Company's 8.625% Series C Fixed-Rate Reset Cumulative Redeemable Preferred Stock, payable on July 30, 2024 to Series C preferred stockholders of record as of June 28, 2024; (v) a quarterly dividend of $0.4375 per share on the Company's 7.00% Series D Cumulative Perpetual Redeemable Preferred Stock, payable on July 1, 2024 to Series D preferred stockholders of record as of June 20, 2024; and (vi) a quarterly dividend of $0.717053 per share on the Company's Series E Floating Rate Cumulative Redeemable Preferred Stock, payable on July 1, 2024 to Series E preferred stockholders of record as of June 20, 2024.

Cautionary Statement Regarding Forward-Looking Statements

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. Examples of forward-looking statements in this press release include statements regarding the Company's payment of dividends. 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/20240610959275/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 Inc.

FAQ

What is the dividend for Ellington Financial's common stock?

Ellington Financial declared a monthly dividend of $0.13 per share for its common stock, payable on July 25, 2024.

When will Ellington Financial pay the Series A preferred stock dividend?

The Series A preferred stock dividend of $0.421875 per share will be payable on July 30, 2024.

How much is the Series B preferred stock dividend for Ellington Financial?

Ellington Financial declared a quarterly dividend of $0.390625 per share for its Series B preferred stock.

When is the record date for Ellington Financial's Series C preferred stock dividend?

The record date for the Series C preferred stock dividend is June 28, 2024.

How much is Ellington Financial's Series D preferred stock dividend?

The Series D preferred stock dividend is $0.4375 per share.

What is the dividend payment date for Ellington Financial's Series E preferred stock?

The Series E preferred stock dividend will be payable on July 1, 2024.