This is incredible news, and I'm frustrated that there wasn't some sort of small pop in the stock price. Pretty much every other mREIT out there cut their dividends for this quarter. MFA maintained theirs, even after paying out the bonus $.29 special dividend 2 months ago. This company is/was only leveraged at 3.3 to 1 for this quarter, so took on little risk with the fluctuations in bond prices this quarter. I love this company. I unloaded money from AGNC, ARR, and NLY to put into MFA. I can only estimate, but I think book value should be right around $8. The stock is under-priced!
I don't believe there was any question of at least maintaining the divvy. They wouldn't have paid out the special divvy if they thought there was an earnings problem. They would have retained the cash to bolser any earnings shortfall.