PASADENA, Calif., Sept. 20, 2012 /PRNewswire/ -- Western Asset Mortgage Capital Corporation (NYSE: WMC) announced today that its Board of Directors has declared a cash dividend of $0.85 per share for the third quarter of 2012. This dividend is payable on October 25, 2012 to common shareholders of record as of October 1, 2012, with an ex-dividend date of September 27, 2012. The Company also announced that its estimated book value per share, as of September 14, 2012, was $22.68. "In light of the Federal Reserve's policy statement on September 13, 2012, we believe it to be important to provide intra-quarter guidance on our current estimated book value, as we believe the Fed's announcement and subsequent actions may have a significant impact on the valuation of our portfolio," said Gavin James, Chief Executive Officer of Western Asset Mortgage Capital Corporation. "We continue to be pleased with the position of our portfolio, given current market conditions." ABOUT WESTERN ASSET MORTGAGE CAPITAL CORPORATION Western Asset Mortgage Capital Corporation is a REIT that invests primarily in Agency RMBS, which are residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S. Government agency (such as GNMA) or a U.S. Government-sponsored entity (such as FNMA or FHLMC). The Company may opportunistically supplement its portfolio by investing in its potential target assets, which include residential mortgage-backed securities that are not guaranteed by a U.S. Government agency or sponsored entity, commercial mortgage-backed securities and other asset-backed securities. The Company is externally managed and advised by Western Asset Management Company, an investment advisor registered with the SEC and a wholly-owned subsidiary of Legg Mason, Inc.