VERO BEACH, Fla., March 10, 2011 (GLOBE NEWSWIRE) -- In a release published earlier today under the same headline, please note the paragraph titled "Portfolio Financing" should read that "…the Company financed its portfolio with approximately $971.7 million of borrowings under repurchase agreements."
ARMOUR Residential REIT, Inc. (NYSE Amex:ARR) (NYSE Amex:ARR.WS) ("ARMOUR" or the "Company") today announced financial results for the year and the quarter ending December 31, 2010. The Company also announced that its Board of Directors declared a Q2 2011 monthly dividend rate of $0.12 per share.
Fourth Quarter 2010 Highlights and Current Balance Sheet Information
- Year ended December 31, 2010 estimated taxable REIT income of $9.2 million.
- Q4 2010 estimated taxable REIT income of approximately $4.4 million
- Q4 2010 Core Income of approximately $4.4 million
- Declared and paid $4.3 million in Q4 2010 dividends
- Q4 2010 estimated taxable REIT income results and Q4 2010 Core Income results equal annualized yield on weighted average Q4 2010 equity of 23.6%
- Q4 2010 weighted average equity was $74.6 million
- Q4 dividends paid equals annualized yield on weighted average Q4 equity of 23.1%
- December 31, 2010, book value per common share of $6.61
- As of December 31, 2010, there were 16,441,554 common shares outstanding
- Historic book value (additional paid-in-capital) per share as of March 8, 2011, is estimated to be $7.12
- Current book value per share as of March 8, 2011, is estimated to be $6.87
- Shares outstanding as of March 8, 2011 are 32,254,054
- Q4 2010 average yield on assets of 3.42% and average net interest spread of 2.95%
- Q4 2010 annualized average principal repayment rate (CPR) of 10.8%
- No assets were sold during the fourth quarter of 2010
- Monthly "Company Update" was posted to the www.armourreit.com website today