Capstead Mortgage (CMO) Approves $0.58 Per Share Q2 Dividend

June 11, 2009 4:20 PM EDT

Capstead Mortgage Corporation (NYSE: CMO) announced that it will pay a second quarter 2009 dividend of $0.58 per common share on July 20, 2009 to stockholders of record as of June 30, 2009.

Commenting on current operating and market conditions, Andrew F. Jacobs, President and Chief Executive Officer, said, "As anticipated, interest rates on our short-term borrowings have continued declining this quarter resulting in a modest expansion in our financing spreads and net interest margins. Additionally, mortgage prepayments on our portfolio of seasoned agency-guaranteed residential adjustable-rate mortgage ("ARM") securities have remained at relatively low levels with portfolio runoff for the quarter totaling 16.6% (a 14.7% constant prepayment rate, or CPR)."

NOTE - last four dividend payments were: 27-Mar-09 $0.56 Dividend, 29-Dec-08 $0.36 Dividend, 26-Sep-08 $0.55 Dividend, & 26-Jun-08 $0.59 Dividend.
[SM]

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