PASADENA, Calif., Dec. 19, 2019 /PRNewswire/ -- Western Asset
Mortgage Capital Corporation (the "Company") (NYSE: WMC) announced
today that its Board of Directors has declared a cash dividend of
$0.31 per share for the fourth
quarter of 2019. Today's dividend is payable on January 24, 2020 to common shareholders of record
as of December 30, 2019, with an
ex-dividend date of December 27,
2019.
In addition, the Company estimates that its book value per
share, as of November 30, 2019, was
approximately $10.70. The
November 30, 2019 estimated book
value is unaudited, has not been verified or reviewed by any third
party and is subject to normal quarterly reconciliation and other
procedures. Further, the estimated book value is as of November 30, 2019 and does not include the
dividend announced today. Book value will fluctuate with market
conditions, the results of the Company's operations and other
factors. The Company's current book value may be materially
different from the November 30, 2019
estimated book value.
ABOUT WESTERN ASSET MORTGAGE CAPITAL
CORPORATION
Western Asset Mortgage Capital Corporation is a
real estate investment trust that invests in, acquires and manages
a diverse portfolio of assets consisting of Agency CMBS, Agency
RMBS, Non-Agency CMBS, Non-Agency RMBS, Residential and Commercial
Whole-Loans, Bridge Loans and other financial assets. The Company's
investment strategy may change, subject to the Company's stated
investment guidelines, and is based on its manager Western Asset
Management Company, LLC's perspective of which mix of portfolio
assets it believes provide the Company with the best risk-reward
opportunities at any given time. The Company is externally managed
and advised by Western Asset Management Company, LLC, an investment
advisor registered with the SEC and a wholly-owned subsidiary of
Legg Mason, Inc. Please visit the Company's website at
www.westernassetmcc.com.
FORWARD-LOOKING STATEMENTS
Certain items in this
press release may constitute forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995, including, but not limited to,
statements relating to the proposed offering and the anticipated
use of the net proceeds from the offering. These statements are
based on management's current expectations and beliefs and are
subject to a number of trends and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements. The Company can give no assurance that
its expectations will be attained. Factors that may cause actual
results to vary from our forward-looking statements include, but
are not limited to, changes in interest rates; changes in the yield
curve; changes in prepayment rates; the availability and terms of
financing; general economic conditions; market conditions;
conditions in the market for mortgage related investments;
legislative and regulatory changes that could adversely affect the
business of the Company; and other factors, including those set
forth in the Risk Factors section of the Company's annual report on
Form 10-K for the period ended December 31,
2018 and quarterly reports on Form 10-Q for the fiscal
quarters ended March 31, 2019,
June 30, 2019 and September 30, 2019, respectively, filed with the
SEC. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
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SOURCE Western Asset Mortgage Capital Corporation