The second sentence of the
Fourth Quarter 2013 Dividend
section of the release dated December 12, 2013 should read: This dividend is payable January 24, 2014 to common shareholders of record on December 31, 2013. The ex-dividend date is December 27, 2013. (sted This dividend is payable January 24, 2013 to common shareholders of record on December 31, 2013. The ex-dividend date is December 27, 2013.)
The corrected release reads:
CHIMERA INVESTMENT CORPORATION ANNOUNCES SEPTEMBER 30, 2013 ESTIMATED BOOK VALUE AND DECLARES DIVIDENDS
- September 30, 2013 Estimated GAAP Book Value of $3.47 per common share
- 4th Quarter 2013 Dividend of $0.09 per common share
- Continued dividend program of $0.09 per share for the first and second quarter of 2014
The Board of Directors of Chimera Investment Corporation (NYSE: CIM) today announced its September 30, 2013 estimated book value, the declaration of its fourth quarter 2013 dividend, and the continuation of its dividend program for the first and second quarter of 2014.
September 30, 2013 Estimated Book Value
The Company announced today that it has estimated that as of September 30, 2013, its GAAP book value was $3.47 per share and its economic book value was $2.98 per share, compared to its estimated June 30, 2013 GAAP book value of $3.52 per share and economic book value of $3.01 per share.
Estimated economic book value considers the fair values of only the assets the Company owns or is able to dispose, pledge, or otherwise monetize, and specifically excludes assets consolidated for GAAP but which the Company cannot dispose, pledge or otherwise monetize. The Company's estimate of economic book value has important limitations. Should the Company sell assets in its portfolio, it may realize materially different proceeds from the sale than estimated as of the reporting date.