ARMOUR Residential REIT Announces Upcoming Dividend Payments
ARMOUR Residential REIT Confirms October Dividends
Recently, ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR-PRC) confirmed the details for its dividends scheduled for October 2024, as previously indicated in the company's earlier communication. This announcement highlights the company's continued commitment to providing returns to its shareholders.
Details of the October 2024 Common Stock Dividend
ARMOUR has outlined the specifics regarding its Common Stock dividend for October 2024. The company will distribute a cash dividend of $0.24, maintaining the robust payment structure that shareholders have come to expect. This amount represents a consistent approach designed to reward investors for their trust and support of ARMOUR's strategic initiatives.
Understanding Dividend Distribution
The payment will be made to shareholders who are on record as of October 15, 2024, with funds disbursed by October 30, 2024. This rhythm of dividend payments plays a vital role in reinforcing investor confidence and signifies ARMOUR's ongoing operational strength.
Series C Preferred Stock Dividend Information for Q4 2024
In conjunction with the Common Stock dividend announcement, ARMOUR has also confirmed the dividend rate for its Series C Preferred Stock. Shareholders can expect a monthly cash dividend of $0.14583 per share. This reflects ARMOUR’s aim to uphold its advantageous positions for both common and preferred shareholders.
Key Dates for Preferred Stockholders
This payment applies to those holding shares as of October 15, 2024, with disbursement scheduled for October 28, 2024. Furthermore, similar quarterly payments are anticipated through November and December, signaling a strategic dedication to its stakeholder community throughout the quarter.
Tax Considerations for Shareholders
ARMOUR is designated as a real estate investment trust (REIT), which carries specific tax benefits and responsibilities. To maintain its status, the company must distribute nearly all of its taxable income, which is beneficial for shareholders as dividends typically come from profits that exceed ordinary REIT taxable income.
Impact on Common Stockholders
Common stockholders can expect that dividends exceeding current earnings may not be directly taxable, adding a layer of appealing financial strategy. This policy, overseen by ARMOUR’s Board of Directors, will factor in the company's financial health, cash flows, and prevailing market conditions when aligning dividend decisions.
About ARMOUR Residential REIT
ARMOUR focuses its investment strategy primarily on fixed rate residential mortgage-backed securities that are issued or guaranteed by U.S. government-sponsored enterprises. By navigating this market effectively, ARMOUR is guided by ARMOUR Capital Management LP, who offers professional management and advisory services, ensuring a solid investment approach.
Company's Commitment
As part of its operational framework, ARMOUR is committed to prudent investment practices that prioritize shareholder returns while maintaining a portfolio that adapts to market dynamics. This approach underlines the company's vision for sustainable growth and is indicative of its responsiveness to market trends.
Frequently Asked Questions
What is the cash dividend for October 2024?
The cash dividend for the Common Stock in October 2024 is set at $0.24 per share.
When will the dividends be paid to shareholders?
The dividends for Common Stock will be paid on October 30, 2024, to shareholders on record as of October 15, 2024.
What is the Series C Preferred Stock dividend rate for Q4 2024?
The Series C Preferred Stock will pay a monthly dividend of $0.14583 per share in Q4 2024.
What are the payment dates for Preferred Stock dividends?
The payment dates for the Series C Preferred Stock dividends are October 28, November 27, and December 27, 2024.
What tax status does ARMOUR hold?
ARMOUR is elected to be treated as a real estate investment trust (REIT) for U.S. Federal income tax purposes.
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