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The Board of Directors of Chimera Investment Corporation (NYSE: CIM) declared the first quarter 2013 common stock cash dividend of $0.09 per common share. This dividend is payable April 25, 2013, to common shareholders of record on April 1, 2013. The ex-dividend date is March 27, 2013.
As previously announced, the Company initiated a regular quarterly dividend of $0.09 per share for the third and fourth quarters of 2012 dividend and for the first and second quarters of 2013. The Board of Directors will review this program after the conclusion of the second quarter of 2013. Portions of the first quarter 2013 distribution may be ordinary income, capital gains or a return of capital.
The Company also announced today that it has estimated that as of December 31, 2012, its GAAP book value was $3.42 per share and its economic book value was $3.04 per share, compared to its estimated September 30, 2012, GAAP book value of $3.31 per share and economic book value of $2.95 per share.
Estimated economic book value considers the fair values of only the assets the Company owns or is able to dispose of, pledge, or otherwise monetize, and specifically excludes assets consolidated for GAAP but which the Company cannot dispose of, pledge or otherwise monetize. The Company's estimate of economic book value has important limitations. Should the Company sell the assets in its portfolio, it may realize materially different proceeds from the sale than estimated as of the reporting date.
The Company continues to work diligently to complete the ongoing work on becoming current on all of its filings required under applicable securities laws. The Company expects to file its Quarterly Report on Form 10-Q for the quarterly period ending March 31, 2012 by May 7, 2013, and all subsequent unfiled Quarterly Reports on Form 10-Q and the 2012 Annual Report on Form 10-K will be filed as soon as practicable.