By Will Feuer
Armour Residential REIT, a real-estate investment trust that invests in mortgage-backed securities, said it plans to pay a 24-cent-a-share dividend to holders of its common stock in January, down from 40 cents a share.
The Vero Beach, Fla., REIT said it has estimated its book value at about $21.88 a share, adjusted for December dividends. The company said it expects returns to support a dividend yield for January of about 12% to 15% of book value.
If the 24-cent dividend is maintained throughout the year, it implies an annual yield of about 14.8% based on Wednesday’s closing stock price of $19.43.
Write to Will Feuer at [email protected]
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