Arlington Asset Investment (AI, Financial) has announced a third-quarter dividend of 55 cents. The dividend is payable to shareholders of record on Sept. 29 with an ex-dividend date of Sept. 28 and a payable date of Oct. 31.
The investment company lowered its dividend in June to the current rate of 55 cents after paying 62.5 cents for seven previous quarters. It has a one-year dividend growth rate of -16.67% and a three-year dividend growth rate of -10.61%.
The stock is trading at $13.34 with a forward dividend yield of 16.49%. Year to date the stock is down -10%.
It has 25.95 million shares outstanding with institutional ownership of 19.47% and insider ownership of 17.65%. Its top institutional shareholder is American Financial Group with 6.10% of the shares outstanding.
The company invests primarily in mortgage related assets. Its investments vary within the category and include residential mortgage-backed securities (MBS) affiliated with the U.S. government as well as mortgage-backed securities issued by private organizations.
In July Arlington Asset Investment reported its second-quarter earnings results. Revenue was $17.94 million, down 9% from the comparable quarter and down 2% from the previous quarter.
Earnings per share were 58 cents, down from 67 cents in the comparable quarter and 60 cents in the previous quarter.
In total, the investment company’s portfolio had a fair value of $5.4 billion. The following breakdown shows its dispersion of assets at the end of the second quarter:
Specified agency MBS represented the greatest portion of the portfolio with $4.2 billion or 78%.
For the third quarter, analysts are estimating revenue of $19.77 million an increase of 8.2% and earnings per share of 56 cents.
Disclosure: I do not own any shares of Arlington Asset Investment.
