ARMOUR Residential REIT, Inc. Raises Monthly Common Dividend Guidance to $0.10 per Share for the Third Quarter of 2020
June 22 2020 - 6:30AM
ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR-PRC) (“ARMOUR” or
the “Company”) today announced guidance on monthly cash dividends
for the Company’s Common Stock for the third quarter. Based on its
current financial position and outlook, the Company anticipates
declaring dividends early in each month as follows:
Third Quarter 2020 Common Stock Dividend
Guidance
Month |
|
Dividend |
|
Holder of Record Date |
|
Payment Date |
July 2020 |
|
$0.10 |
|
July 15, 2020 |
|
July 30, 2020 |
August 2020 |
|
$0.10 |
|
August 17, 2020 |
|
August 28, 2020 |
September 2020 |
|
$0.10 |
|
September 15, 2020 |
|
September 29, 2020 |
June 2020 Dividends
ARMOUR previously announced the resumption of
monthly dividends for its Common Stock with a $0.09 cash dividend
per share payable on June 29, 2020 to holders of record as of June
15, 2020. The monthly cash dividend on the Company’s 7.00% Series C
Preferred Stock in the amount of $0.14583 is also payable on
June 29, 2020 to holders of record on June 15, 2020.
Certain Tax Matters
ARMOUR has elected to be taxed as a real estate
investment trust (“REIT”) for U.S. Federal income tax purposes. In
order to maintain this tax status, ARMOUR is required to timely
distribute substantially all of its ordinary REIT taxable income.
Dividends paid in excess of current tax earnings and profits for
the year will generally not be taxable to common stockholders.
Actual dividends are determined at the discretion of the Company’s
Board of directors, who may consider additional factors including
the Company’s results of operations, cash flows, financial
condition, capital requirements as well as current market
conditions, expected opportunities and other relevant factors.
About ARMOUR
Residential REIT, Inc.
ARMOUR invests primarily in fixed rate
residential, adjustable rate and hybrid adjustable rate residential
mortgage‑backed securities issued or guaranteed by U.S.
Government-sponsored enterprises (“GSEs”) or guaranteed by the
Government National Mortgage Association. In addition, ARMOUR
invests in other securities backed by residential mortgages for
which the payment of principal and interest is not guaranteed by a
GSE or government agency. ARMOUR is externally managed and advised
by ARMOUR Capital Management LP, an investment advisor registered
with the Securities and Exchange Commission (“SEC”).
Safe
Harbor
This press release includes “forward-looking
statements” within the meaning of the safe harbor provisions of the
United States Private Securities Litigation Reform Act of 1995.
Actual results may differ from expectations, estimates and
projections and, consequently, you should not rely on these
forward-looking statements as predictions of future events. Words
such as “expect,” “estimate,” “project,” “budget,” “forecast,”
“anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,”
“believes,” “predicts,” “potential,” “continue,” and similar
expressions are intended to identify such forward‑looking
statements. These forward‑looking statements involve significant
risks and uncertainties that could cause the actual results to
differ materially from the expected results. The Company
disclaims any obligation to release publicly any updates or
revisions to any forward-looking statement to reflect any change in
its expectations or any change in events, conditions or
circumstances on which any such statement is based, except as
required by law.
Additional Information and Where to Find
It
Investors, security holders and other interested
persons may find additional information regarding the Company at
the SEC’s internet site at www.sec.gov, or the Company website at
www.armourreit.com, or by directing requests to: ARMOUR
Residential REIT, Inc., 3001 Ocean Drive, Suite 201, Vero Beach,
Florida 32963, Attention: Investor Relations.
Investor
Contact:
James R. MountainChief Financial OfficerARMOUR Residential REIT,
Inc.(772) 617-4340
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