Anworth Mortgage Asset Corp. | 7.625% Series C Cumulative Redeemable Preferred Stock (ANH.PRC)
Prospectus excerpt: We are offering 300,000 shares of our 7.625% Series C Cumulative Redeemable Preferred Stock, par value $0.01 per share (which we refer to as the ôSeries C Preferred Stockö). We will pay cumulative dividends on the Series C Preferred Stock, from and including the date of original issuance, in the amount of $1.90625 per share each year, which is equivalent to 7.625% of the $25.00 liquidation preference per share. Dividends on the Series C Preferred Stock will be payable quarterly in arrears, beginning on April 15, 2015. Our other series of preferred stock outstanding as of the date of this prospectus supplement are 1,009,640 shares of our 6.25% Series B Cumulative Preferred Stock (which we refer to as our ôSeries B Preferred Stockö), with a liquidation preference of $25.00 per share, and 1,919,378 shares of our 8.625% Series A Cumulative Preferred Stock (which we refer to as our ôSeries A Preferred Stockö), with a liquidation preference of $25.00 per share. The Series C Preferred Stock will rank on parity with our Series A Preferred Stock and Series B Preferred Stock.
Anworth Mortgage Asset is a real estate investment trust. Co. invests in, finances and manages a portfolio of residential mortgage-backed securities and residential mortgage loans, including the following investments: agency mortgage-backed securities, which include residential mortgage pass-through certificates and collateralized mortgage obligations; non-agency mortgage-backed securities, which are securities issued by companies that are not guaranteed by federally sponsored enterprises and that are secured primarily by first-lien residential mortgage loans; and residential mortgage loans, whereby Co. acquires non-Qualified Mortgage, residential mortgage loans from loan originators.