In addition, some of the discussion today will include references to non-GAAP financial measures. Information about these measures as well as their corresponding GAAP reconciliations may be found in the supplemental information packet available on our website. The supplemental information packet and scheduled holdings on our website include information that we will be referring to on our call today, and we encourage you to have those information available during the call.
With that, I will turn the call over to our CEO, Bill Sonneborn.
Thank you, Angela, and thank you to all of you for joining our call today. We will begin today’s call with a review of fourth quarter highlights, and then Mike will review our financial results and performance by strategy in detail. After that, I’ll provide you with an update on our views on the market, the economy and our areas of focus as we look ahead.Today we announced that our Board of Directors declared an $0.18 per share cash distribution on our common shares. This distribution is payable on March 1 to shareholders of record as of February. In addition, we announced that our Board of Directors declared a special distribution on our common shares of $0.08 per share that is payable on March 29 to shareholders of record as of March 15. In total, we will be distributing $0.26 per share.Consistent with the company’s distribution policy, the company’s Board of Directors considered a number of factors in determining to declare this special distribution including current market conditions, existing restrictions in the company’s borrowing agreement, the amount of ordinary taxable income or loss earned by the company, and gains or losses the company recognized on the disposition of assets during the year, as well as company’s liquidity.Reported net income for the fourth quarter of $77 million or $0.43 per diluted common share, which represents an 18% return on equity. And we reported book value per share as of December 31, 2011 of $9.41.
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