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Western Asset Mortgage Capital Corporation Message Board

  • coefrank335 coefrank335 Mar 31, 2013 11:40 AM Flag

    About the Dividend

    Since the 4th Quarter dividend was paid in January, that pretty much insured that the 1st Quarter dividend would not be paid until April. My guess is that the Board will approve this week or next and that a Press Release will follow announcing Record, Ex-Div and Payment dates. Payment will Probably be the last week.

    The Company’s webcast last week reporting 2012 and 4th quarter results was forthcoming and positive.They paid us a Special dividend in addition to the Regular $0.90 Dividend. The Share Price is up $2.23 for the year as of today; that’s a 10.6% Appreciation.

    Relax and enjoy Easter Sunday. This is a good Company with good Management.

    Sentiment: Strong Buy

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    • I'm wondering if they're trying to decide on the size of a secondary offering and whether to issue this before or after the next EX div date. This can be tricky, as they don't want to reduce the div amt. nor cut the book value below last report once a dividend is paid.

      Sentiment: Hold

    • Paid is one thing, declared another. Their last declaration was December 19th. They are way past.

      • 2 Replies to ehpb1
      • probably more important than either declaration or payment is the date the share holder is recorded... this was around the 29 the last 2 qtrs..... i'm saying this based on last 2 ex dates being the 27th and generally the date of record follows ex date by 2 days....
        with this in mind i would say that it has been a point to get the share holders recorded at the end of each qtr. (sept & dec)....
        i guess this time they will get a record of who owns the first or second week of 2nd qtr?
        not happy with lack of communication in pushing divi date back & as someone else posted.... i don't see this as a sign of trouble or bad news but more a sign of being new to this method and lack of understanding the shareholder.
        shareholders in any company want predictability or atleast as much as is possible in a given company or sector. many investors in this sector are income oriented and rely somewhat on the divis paid our and expect them on a set schedule....
        lets see an announcement this week.

      • Ehpb1. I have said the same for two weeks but no one has offered a reason for the lack of a Declaration in the quarter. I will trade WMC only after they get this worked out . The company statement thus far are not satisfactory.

    • A comment that has a brain,thank you ,happy easter to all.

      Sentiment: Strong Buy

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