New York Mortgage Trust Declares Its First Dividend of 2013

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New York Mortgage Trust has declared its latest quarterly dividend and its first for 2013. For the current quarter, the mortgage real estate trust will distribute $0.27 per share of its common stock on April 25 to shareholders of record as of March 28. This amount matches the company's three previous payouts. Prior to that, it dispensed $0.25 per share.

Although New York Mortgage Trust has been a consistent dividend payer over the past few years, its distributions have fluctuated, at times significantly. Since early 2008, those payouts have ranged from $0.10 per share to $0.35.

The new dividend annualizes to $1.08 per share. That yields 14.9% at  New York Mortgage Trust's current stock price of $7.26.

The article New York Mortgage Trust Declares Its First Dividend of 2013 originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in New York Mortgage Trust, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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