Hatteras Financial Cuts Common Stock Dividend

Hatteras Financial's common stock shareholders will have to adjust to a smaller distribution from the mortgage REIT. The company has declared a Q3 dividend of $0.55 per share for that security, to be handed out on Oct. 25 to shareholders of record as of Sept. 30. That amount is $0.15, or 21%, lower than each of Hatteras Financial's three preceding disbursements of $0.70 apiece.

Meanwhile, the company declared a distribution of $0.4765625 per share of its series A preferred stock. This will be paid on Oct. 15 to holders of record as of Sept. 30.

The new common stock dividend annualizes to $2.20 per share. That yields 11.2% at Hatteras Financial's most recent closing stock price of $19.66.

The article Hatteras Financial Cuts Common Stock Dividend originally appeared on Fool.com.

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