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.Fool contributor Eric Volkman has no position in Hatteras Financial. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.