Anworth increases conversion rate for 6.25% series B preferreds

By Marisa Wong

Madison, Wis., March 31 - Anworth Mortgage Asset Corp. said the conversion rate for its 6.25% series B cumulative convertible preferred stock will increase to 4.0411 shares from 3.9881 shares, effective April 1.

The conversion rate adjustment is due to a quarterly stock dividend announced on March 21. A dividend of $0.14 per share will be paid on April 29 to holders of record as of the close of business on March 31.

Anworth is a mortgage real estate investment trust based in Santa Monica, Calif.

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