Anworth lifts conversion rate of 6.25% convertible preferreds

By Susanna Moon

Chicago, Dec. 23 - Anworth Mortgage Asset Corp. will raise the conversion rate of its 6.25% series B cumulative convertible preferred stock, according to an 8-K filed with the Securities and Exchange Commission.

The conversion rate will be 3.9881 common shares, effective Tuesday, up from 3.9702 shares.

The hike was triggered by the company's plans to pay a dividend of $0.08 per share on Jan. 24.

The company's stock (NYSE: ANH) closed at $4.17 on Friday.

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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