Anworth Mortgage Asset increases 6.25% convertibles’ conversion rate

By Wendy Van Sickle

Columbus, Ohio, Dec. 31 – Anworth Mortgage Asset Corp. will raise the conversion rate of its 6.25% series B cumulative convertible preferred stock to 4.4909 shares of its common stock from 4.3942 shares, according to a press release.

The change is effective Friday.

The increase is due to a quarterly common stock dividend of $0.15 per share payable on Jan. 29 to holders of record as of the close of business on Friday.

The conversion rate on the series B convertibles is adjusted when Anworth pays a cash dividend during any fiscal quarter to its stockholders in an amount that results in an annualized common stock dividend yield greater than 6.25%.

Anworth is an externally managed mortgage real estate investment trust based in Santa Monica, Calif.

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