Western Asset Mortgage cuts dividend by 31.1%

Western Asset Mortgage Capital (WMC) will lower its quarterly dividend to $0.31 per share.

Western Asset Mortgage Capital Corporation (the "Company") (NYSE: WMC) announced today that its Board of Directors has declared a cash dividend of $0.31 per share for the second quarter of 2016. Today's dividend is payable on July 26, 2016 to common shareholders of record as of July 5, 2016, with an ex-dividend date of June 30, 2016.

In addition, the Company estimates that its book value per share, as of May 31, 2016, was approximately $11.19.  The May 31, 2016 estimated book value is unaudited which has not been verified or reviewed by any third party and is subject to normal quarterly reconciliation and other procedures.  Further, the estimated book value is as of May 31, 2016 and does not include the dividend announced today.  Book value will fluctuate with market conditions, the results of the Company's operations and other factors.  The Company's current book value may be materially different from the May 31, 2016 estimated book value.

Source: Western Asset Mortgage Capital

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