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American Capital Agency Corp.: Yet Another Dividend Cut

ByAlbert Alfonso:

2013 has not been kind to American Capital Agency Corp. (AGNC). The company has been hammered by the taper related volatility seen in the MBS market, causing both book value declines and lower net interest margins. As a result, American Capital has seen its shares lose over 30% of their value YTD while its quarterly dividend has been cut nearly in half. However, the company is taking steps to remedy this situation, mostly via an accelerated share buyback program.

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American Capital lowers its dividend to $0.65 per share, now yields 13.20%

On December 18, American Capital announced a $0.65 per share dividend for Q4 2013. This would be a 19%, or $0.15 per share, decline from the Q3 2013 dividend of $0.80, and a 48%, or $0.60 per share, decline from the Q4 2012 dividend of $1.25. The Q4 2013 dividend would mark American Capital's fourth

 

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