Armour Residential REIT, Inc. has confirmed its July 2024 cash dividends for both common stock and Series C preferred stock. For the common stock, the dividend will be $0.24 per share, with a record date of July 15, 2024, and a payment date of July 30, 2024.
The Q3 2024 monthly cash dividend rate for the Series C preferred stock will be $0.14583 per share, with the same record date of July 15, 2024, and payment dates of July 29, August 27, and September 27, 2024 for the respective months.
The company has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes and is required to timely distribute substantially all of its ordinary REIT taxable income. This tax status means that dividends paid in excess of current tax earnings and profits for the year will generally not be taxable to common stockholders.
Armour Residential REIT, Inc. primarily invests in fixed-rate residential, adjustable-rate, and hybrid adjustable-rate residential mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises or guaranteed by the Government National Mortgage Association. The company is externally managed and advised by Armour Capital Management LP, a registered investment advisor with the Securities and Exchange Commission (SEC). The market has reacted to these announcements by moving the company's shares -1.2% to a price of $19.15. For more information, read the company's full 8-K submission here.
