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

Rhea-AI Summary

Western Asset Mortgage Capital Corporation (NYSE: WMC) has declared a cash dividend of $0.40 per share for Q3 2022, payable on October 26, 2022, to shareholders of record as of October 3, 2022. The ex-dividend date is September 30, 2022. As of August 31, 2022, the estimated GAAP book value per share is approximately $22.02. Note that this is unaudited and subject to changes.

Positive

• Declared a cash dividend of $0.40 per share for Q3 2022, enhancing income for shareholders.
• Estimated GAAP book value per share of $22.02 suggests strong asset value.

Negative

• GAAP book value is unaudited and may fluctuate significantly due to market conditions.
• Potential risks and uncertainties associated with forward-looking statements.

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 third quarter of 2022. Today’s dividend is payable on October 26, 2022 to common shareholders of record as of October 3, 2022, with an ex-dividend date of September 30, 2022.

In addition, the Company estimates that its GAAP book value per share, as of August 31, 2022, was approximately $22.02. The August 31, 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 August 31, 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 August 31, 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/20220922005798/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 Western Asset Mortgage Capital Corporation (WMC) in Q3 2022?

The dividend amount declared is $0.40 per share.

When is the dividend for WMC payable?

The dividend is payable on October 26, 2022.

What is the record date for WMC's Q3 2022 dividend?

The record date for the dividend is October 3, 2022.

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

The estimated GAAP book value per share as of August 31, 2022, is approximately $22.02.

What are the risks associated with WMC as mentioned in the press release?

The company notes that forward-looking statements are subject to substantial risks and uncertainties, which are described in their annual report.