ARMOUR Residential REIT Inc. | 7.00% Series C Cumulative Redeemable Preferred Stock (ARR.PRC)
Prospectus excerpt: ARMOUR Residential REIT, Inc. is offering to the public 3,000,000 shares of our 7.00% Series C Cumulative Redeemable Preferred Stock, which we refer to in this prospectus supplement as the “Series C Preferred Stock.” This is an original issuance of the Series C Preferred Stock. We will pay monthly cumulative dividends on the Series C Preferred Stock on the 27th day of each month (provided that if any dividend payment date is not a business day, then the dividend which would otherwise have been payable on that dividend payment date may be paid on the next succeeding business day) when, as and if declared by our board of directors, from, and including, the date of original issuance at 7.00% of the $25.00 per share liquidation preference per annum (equivalent to $1.75 per annum per share). The first dividend payable on February 27, 2020 in the amount of $0.14583 per share will be paid to the persons who are the holders of record of the Series C Preferred Stock at the close of business on February 15, 2020.
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ARMOUR Residential REIT is a real estate investment trust. Co. invests in mortgage backed securities, issued or guaranteed by a U.S. Government-sponsored entity, such as the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or a government agency such as Government National Mortgage Administration (collectively, Agency Securities). Co.'s Agency Securities consist primarily of fixed rate loans. The remaining are either backed by hybrid adjustable rate or adjustable rate loans. Co. also invests in Credit Risk and Non-Agency Securities, Interest-Only Securities, U.S. Treasury Securities and money market instruments. Preferreds: ARR.PRA, ARR.PRB, ARR.PRC Open the ARR Information Page » |
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