Western Asset Mortgage Capital Corporation Declares Fourth Quarter Dividend of $0.40 Per Share

Rhea-AI Summary

Western Asset Mortgage Capital Corporation (NYSE: WMC) announced a cash dividend of $0.40 per share for Q4 2022, payable on January 26, 2023 to shareholders of record as of January 3, 2023. The ex-dividend date is December 30, 2022. Additionally, the estimated GAAP book value per share as of November 30, 2022 is approximately $16.82, subject to fluctuations based on market conditions and operations. This value is unaudited and may differ significantly from current valuations.

Positive

• Declared a cash dividend of $0.40 per share, rewarding shareholders.
• Estimated GAAP book value per share of approximately $16.82 indicates solid asset backing.

Negative

• Estimated book value is unaudited and may not reflect current market conditions accurately.
• The book value could be materially different from current assessments due to market fluctuations.

PASADENA, Calif.--(BUSINESS WIRE)-- Western Asset Mortgage Capital Corporation (the “Company”) (NYSE: WMC) announced today that its Board of Directors has declared a cash dividend of $0.40 per share for the fourth quarter of 2022. Today’s dividend is payable on January 26, 2023 to common shareholders of record as of January 3, 2023, with an ex-dividend date of December 30, 2022.

In addition, the Company estimates that its GAAP book value per share, as of November 30, 2022, was approximately $16.82. The November 30, 2022 estimated GAAP book value is unaudited, has not been verified or reviewed by any third party and is subject to normal quarterly reconciliation and other procedures. Further, the estimated book value is as of November 30, 2022 and does not include the dividend announced today. GAAP book value will fluctuate with market conditions, the results of the Company’s operations and other factors. The Company’s current GAAP book value may be materially different from the November 30, 2022 estimated GAAP book value.

ABOUT WESTERN ASSET MORTGAGE CAPITAL CORPORATION

Western Asset Mortgage Capital Corporation is a real estate investment trust that invests in, acquires and manages a diverse portfolio of assets, with a focus on residential real estate related investments, including non-qualified mortgage loans, non-agency RMBS and other related investments. The Company’s investment strategy may change, subject to the Company’s stated investment guidelines, and is based on its manager Western Asset Management Company, LLC's perspective of which mix of portfolio assets it believes provide the Company with the best risk-reward opportunities at any given time. The Company is externally managed and advised by Western Asset Management Company, LLC, an investment advisor registered with the Securities and Exchange Commission and a wholly-owned subsidiary of Franklin Resources, Inc. Please visit the Company’s website at www.westernassetmcc.com.

FORWARD-LOOKING STATEMENTS

This press release contains statements that may constitute "forward-looking statements". For these statements, the Company claims the protections of the safe harbor for forward-looking statements contained in such sections. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company’s control. Such risks and uncertainties are described in the Risk Factors section of the Company’s annual report on Form 10-K for the period ended December 31, 2021 filed with the Securities and Exchange Commission (“SEC”). The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221221005608/en/

Investor Relations Contact:

Larry Clark, CFA

Financial Profiles, Inc.

(310) 622-8223

lclark@finprofiles.com

Source: Western Asset Mortgage Capital Corporation

FAQ

What is the dividend amount for WMC for Q4 2022?

The dividend amount for WMC for Q4 2022 is $0.40 per share.

When is the WMC dividend payable?

The WMC dividend is payable on January 26, 2023.

What is the ex-dividend date for WMC?

The ex-dividend date for WMC is December 30, 2022.

What is the estimated GAAP book value per share for WMC?

The estimated GAAP book value per share for WMC as of November 30, 2022, is approximately $16.82.

Is the GAAP book value for WMC verified?

No, the estimated GAAP book value is unaudited and has not been verified by any third party.