ARMOUR Residential REIT Announces October 2024 Dividend Details
ARMOUR Residential REIT, Inc. (NYSE: ARR) has confirmed its October 2024 cash dividend for its Common Stock. This affirmation aligns with the prior guidance released by the company. It reflects ARMOUR's consistent commitment to delivering value to its shareholders.
Dividend Information for Common Stock
Key Details of October Cash Dividends
The confirmed dividend for October 2024 is set at $0.24 per share. The holder of record date is October 15, 2024, and the payment date will follow on October 30, 2024. This ensures that shareholders receive their returns in a timely fashion, promoting confidence in the company's operations.
Series C Preferred Stock Dividend Overview
Details for Q4 2024 Preferred Dividends
For the Series C Preferred Stock, the dividend is established at $0.14583, with the holder of record date also being October 15, 2024. Payments for this dividend are scheduled for October 28, 2024. ARMOUR continues to provide regular returns to its preferred shareholders, affirming its dedication to investor satisfaction.
Further Dividend Information for Upcoming Months
Continuity of Preferred Stock Dividends
As we look into November and December 2024, ARMOUR intends to maintain its dividend payment practice with $0.14583 for each of those months as well. The completion of payments for November is anticipated for November 27, 2024, and for December by the end of that month, demonstrating the company's commitment to a consistent financial strategy.
Company's Tax Status and Its Implications
ARMOUR Residential REIT has opted to be classified as a real estate investment trust (REIT) under U.S. Federal tax regulations. This structure necessitates the company to distribute almost all of its ordinary taxable earnings to uphold its tax status. Dividends exceeding the current tax earnings generally won't be taxed for common stockholders, which is beneficial for investors.
About ARMOUR Residential REIT, Inc.
ARMOUR primarily invests in various types of mortgage-backed securities, including fixed-rate and adjustable-rate residential securities. These investments are either issued or guaranteed by U.S. government-sponsored entities. The company is externally managed by ARMOUR Capital Management LP, registered with the SEC, indicating a strong governance structure.
Contact Information for Investors
For any inquiries, interested parties may contact:
Gordon M. Harper
Chief Financial Officer
ARMOUR Residential REIT, Inc.
(772) 617-4340
Frequently Asked Questions
What dividends were announced for October 2024?
The company confirmed a dividend of $0.24 per share for Common Stock with a holder record date of October 15, 2024.
When will the dividends be paid?
Dividend payments for October 2024 will be made on October 30, 2024.
How much is the dividend for Series C Preferred Stock?
The Q4 2024 dividend for Series C Preferred Stock is set at $0.14583.
What is the significance of ARMOUR's REIT status?
Being a REIT allows ARMOUR to avoid corporate tax on income and requires it to distribute most of its taxable income to shareholders.
Who can I contact for more information on ARMOUR Residential REIT?
Investors may reach out to Gordon M. Harper, CFO of ARMOUR, at (772) 617-4340 for further assistance.
