Ellington Monetary will increase month-to-month abnormal dividend by 40%
-The corporate additionally declares a quarterly most popular dividend-
Ellington Monetary Inc. (NYSE: EFC) (the “Firm”) at present introduced that its board of administrators has declared a month-to-month dividend of $ 0.14 per widespread share, payable on Could 25, 2021 to shareholders of document as of 30 April 2021. This dividend represents a 40% improve over the beforehand declared month-to-month abnormal dividend of the Firm.
“I’m happy that the board has elevated our month-to-month dividend to $ 0.14, as we proceed to see sturdy development in our enterprise, due to a better circulate of excessive yield loans from our origination applications,” stated Laurence Penn, CEO and President. “Wanting forward, we’re inspired by the revenue energy of our present portfolio, our sturdy pipeline of mortgage acquisitions and our strategic fairness investments in mortgage origination corporations. These optimistic developments in our enterprise, mixed with the dry powder, we should proceed to develop. portfolio, give us confidence that we are able to improve our dividend farther from right here. “
The Board of Administrators additionally declared a quarterly dividend of $ 0.421875 per share on the Firm’s 6.750% Fastened and Variable Price Redeemable Most popular Shares Sequence A, payable on April 30, 2021 to most popular shareholders of document on April 19. 2021.
This press launch accommodates forward-looking statements inside the that means of the secure harbor provisions of the Personal Securities Litigation Reform Act of 1995. Ahead-looking statements contain many dangers and uncertainties. The precise outcomes of the corporate might differ from its beliefs, expectations, estimates and projections and, due to this fact, you shouldn’t depend on these forward-looking statements as predictions of future occasions. Ahead-looking statements are usually not historic in nature and could also be recognized by phrases equivalent to “imagine”, “anticipate”, “anticipate”, “estimate”, “plan”, “plan”, “proceed”, “have intention “,” ought to, “” would “,” may “,” purpose “,” goal “,” will “,” might “,” search “or comparable expressions or their adverse kinds, or by references to technique, plans or intentions. Examples of forward-looking statements on this press launch embody statements concerning the fee of dividends by the corporate and potential dividend development, amongst others. The outcomes of the corporate might fluctuate every now and then. month to month and quarter to quarter relying on numerous components, a few of that are past the management of the corporate and / or are troublesome to foretell, together with, with out limitation, variations rates of interest and market worth. of the Firm’s securities, adjustments in costs x mortgage default and prepayment charges, the power of the Firm to borrow to finance its property, adjustments in authorities laws affecting the actions of the Firm, the power of the Firm to keep up its exclusion from registration beneath the Funding Firm Act of 1940, the Firm’s potential to keep up its qualification as an actual property funding belief, or “REIT”, and different adjustments in market circumstances and financial developments, together with adjustments ensuing from the financial results related to the COVID-19 pandemic, and the responses related to the pandemic. As well as, forward-looking statements are topic to dangers and uncertainties, together with, however not restricted to, these described in Part 1A of the Firm’s Annual Report on Type 10-Ok filed on March 16, 2021, out there on the Firm’s web site. firm at tackle www.ellingtonfinancial.com or on the SEC web site (www.sec.gov). Different dangers, uncertainties and components that might trigger precise outcomes to vary materially from these projected could also be described every now and then within the experiences that the Firm information with the SEC, together with experiences on Types 10- Q, 10-Ok and 8-Ok. The Firm assumes no obligation to replace or revise forward-looking statements, whether or not because of new data, future occasions or in any other case.
This press launch and the knowledge it accommodates don’t represent a suggestion of securities or a solicitation of a suggestion to buy securities.
About Ellington Monetary
Ellington Monetary invests in a various vary of economic property, together with residential and business mortgages, residential and business mortgage-backed securities, client loans and asset-backed client loan-backed securities , secured mortgage bonds, non-mortgage derivatives and mortgage associated. , fairness investments in mortgage origination corporations and different strategic investments. Ellington Monetary is managed and suggested externally by Ellington Monetary Administration LLC, a subsidiary of Ellington Administration Group, LLC
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Ellington Monetary Inc.
Amanda Klein or Kevin FitzGerald
Gasthalter & Co.
for Ellington Monetary