Western Asset Mortgage Capital Corporation Declares Third Quarter Dividend of $0.06 Per Share

Rhea-AI Summary

Western Asset Mortgage Capital Corporation (WMC) has declared a cash dividend of $0.06 per share for Q3 2021. This dividend will be payable on October 26, 2021, to shareholders of record as of October 4, 2021, with an ex-dividend date of October 1, 2021. Additionally, the estimated GAAP book value per share as of August 31, 2021, is $3.67, subject to adjustments and market conditions. This information is critical for investors tracking WMC's performance and dividends.

Positive

• Declared cash dividend of $0.06 per share.
• Dividend payment date set for October 26, 2021.

Negative

• Estimated GAAP book value subject to fluctuations and uncertainties.
• Book value does not account for the newly declared dividend.

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 $0.06 per share for the third quarter of 2021. Today’s dividend is payable on October 26, 2021 to common shareholders of record as of October 4, 2021, with an ex-dividend date of October 1, 2021.

In addition, the Company estimates that its GAAP book value per share, as of August 31, 2021, was approximately $3.67. The August 31, 2021 estimated GAAP book value is unaudited, has not been verified or reviewed by our external auditors and is subject to normal quarterly reconciliation and other procedures. Further, the estimated book value is as of August 31, 2021 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 August 31, 2021 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 consisting of Residential Whole Loans, Commercial Loans, Non-Agency CMBS, Non-Agency RMBS, GSE Risk Transfer Securities and to a lesser extent Agency RMBS, Agency CMBS and ABS. 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. In particular, it is difficult to fully assess the impact of COVID-19 at this time due to, among other factors, uncertainty regarding the severity and duration of the outbreak domestically and internationally and the effectiveness of federal, state and local governments’ efforts to contain the spread of COVID-19 and respond to its direct and indirect impact on the U.S. economy and economic activity. Other factors are described in Risk Factors section of the Company’s annual report on Form 10-K for the period ended December 31, 2020 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/20210923005848/en/

Investor Relations Contact:

Larry Clark

Financial Profiles, Inc.

(310) 622-8223

lclark@finprofiles.com

Source: Western Asset Mortgage Capital Corporation

FAQ

What is the dividend declared by WMC for Q3 2021?

WMC declared a cash dividend of $0.06 per share for Q3 2021.

When will WMC's dividend be paid?

The dividend will be paid on October 26, 2021.

What is the ex-dividend date for WMC's Q3 2021 dividend?

The ex-dividend date is October 1, 2021.

What is WMC's estimated GAAP book value per share?

The estimated GAAP book value per share is approximately $3.67 as of August 31, 2021.

Is the GAAP book value for WMC audited?

No, the estimated GAAP book value is unaudited and subject to adjustments.