Apollo Residential Sets Preferred and Common Dividends
Residential mortgage-backed securities REIT Apollo Residential Mortgageannounced yesterday its second-quarter dividend of $0.70 per share, the same rate it's paid for the past three quarters after lowering the payout almost 18% from $0.85 per share.
The board of directors said the quarterly dividend is payable on July 31 to the holders of record at the close of business on June 28. The mREIT has made quarterly payouts to investors since 2011. It paid a special dividend of $0.35 per share in January.
The board also announced a cash dividend on Apollo's 8.00% Series A cumulative redeemable perpetual preferred stock of $0.50 per share, also payable on July 31 to the holders of record at the close of business on June 28. The preferred shares trade on the NYSE under the symbol AMTG-PA.
The regular dividend payment equates to a $2.80-per-share annual dividend, yielding 15.5% based on the closing price today of Apollo Residential Mortgage's stock.
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