Anworth increases conversion rate of 6.25% convertible preferreds

By Tali David

Minneapolis, Oct. 10 - Anworth Mortgage Asset Corp. will increase the conversion rate of its 6.25% series B cumulative convertible preferred stock to 3.9702 shares of common stock from 3.9202 shares on Oct. 11, according to an 8-K filed with the Securities and Exchange Commission.

On Sept. 30, the company's board of directors declared a quarterly dividend of $0.12 per share of common stock, which is payable on Oct. 29.

The company's stock (NYSE: ANH) closed at $4.46 on Monday.

Anworth is a mortgage real estate investment trust based in Santa Monica, Calif., that invests primarily in securities guaranteed by the U.S. government or by federally sponsored enterprises such as Fannie Mae or Freddie Mac.

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