Ellington Financial increases monthly ordinary dividend by 40%
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-The company also declares a quarterly preferred dividend-
OLD GREENWICH, Connecticut – (BUSINESS WIRE) – Ellington Financial Inc. (NYSE: EFC) (the “Company”) today announced that its board of directors has declared a monthly dividend of $ 0.14 per common share, payable on May 25, 2021 to shareholders of record on April 30, 2021. This dividend represents an increase 40% of the previously declared monthly ordinary dividend of the company.
“I am pleased that the board has increased our monthly dividend to $ 0.14, as we continue to see strong growth in our business, thanks to a greater flow of high yield loans from our origination programs,” said Laurence Penn, CEO and President. “Looking ahead, we are encouraged by the profit power of our current portfolio, our strong pipeline of loan acquisitions and our strategic equity investments in loan origination companies. These positive trends in our business, combined with the dry powder, we must continue to develop. portfolio, give us confidence that we can increase our dividend further from here. ”
The Board of Directors also declared a quarterly dividend of $ 0.421875 per share on the Company’s 6.750% Fixed and Variable Rate Redeemable Preferred Shares Series A, payable April 30, 2021 to preferred shareholders of record on April 19. 2021.
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve many risks and uncertainties. The actual results of the company may differ from its beliefs, expectations, estimates and projections and, therefore, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements are not historical in nature and may be identified by words such as “believe”, “expect”, “anticipate”, “estimate”, “plan”, “plan”, “continue”, “have intention “,” should, “” would “,” could “,” aim “,” objective “,” will “,” may “,” seek “or similar expressions or their negative forms, or by references to strategy, plans or intentions. Examples of forward-looking statements in this press release include statements regarding the payment of dividends by the company and potential dividend growth, among others. The results of the company may fluctuate from time to time. month to month and quarter to quarter depending on various factors, some of which are beyond the control of the company and / or are difficult to predict, including, without limitation, variations interest rates and market value. of the Company’s securities, changes in prices x mortgage default and prepayment rates, the ability of the Company to borrow to finance its assets, changes in government regulations affecting the activities of the Company, the ability of the Company to maintain its exclusion from registration under the Investment Company Act of 1940, the Company’s ability to maintain its qualification as a real estate investment trust, or “REIT”, and other changes in market conditions and economic trends, including changes resulting from the economic effects associated with the COVID-19 pandemic, and the responses associated with the pandemic. In addition, forward-looking statements are subject to risks and uncertainties, including, but not limited to, those described in Section 1A of the Company’s Annual Report on Form 10-K filed on March 16, 2021, available on the Company’s website. company at address www.ellingtonfinancial.com or on the SEC website (www.sec.gov). Other risks, uncertainties and factors that could cause actual results to differ materially from those projected may be described from time to time in the reports that the Company files with the SEC, including reports on Forms 10- Q, 10-K and 8-K. The Company assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise.
This press release and the information it contains do not constitute an offer of securities or a solicitation of an offer to purchase securities.
About Ellington Financial
Ellington Financial invests in a diverse range of financial assets, including residential and commercial mortgages, residential and commercial mortgage-backed securities, consumer loans and asset-backed consumer loan-backed securities , secured loan bonds, non-mortgage derivatives and mortgage related. , equity investments in loan origination companies and other strategic investments. Ellington Financial is managed and advised externally by Ellington Financial Management LLC, a subsidiary of Ellington Management Group, LLC
Ellington Financial Inc.
Amanda Klein or Kevin FitzGerald
Gasthalter & Co.
for Ellington Financial
Source: Ellington Financial Inc.