BETHESDA, Md., June 23 /PRNewswire-FirstCall/ -- American Capital Agency
Corp. (American Capital Agency or the Company) (Nasdaq: AGNC) announced
today that its Board of Directors has declared a cash dividend of $0.31 per
share for the shortened stub period from the closing of the Company's
initial public offering (IPO) and concurrent private placement on May 20,
2008 through June 30, 2008. The second quarter 2008 dividend is payable on
July 29, 2008 to common shareholders of record as of July 2, 2008, with an
ex-dividend date of June 30, 2008.
On May 20, 2008, the Company raised over $286 million in net proceeds
from its IPO and concurrent private placement, commented Malon Wilkus,
Chairman, President and CEO. Since then, the Company has invested these net
proceeds, along with proceeds from borrowings under repurchase agreements with
12 global financial institutions, in approximately $2.5 billion of agency
securities. On average, the portfolio was deployed for approximately 27 days
during the stub period. With the successful deployment of our capital, we are
pleased to be in a position to declare our inaugural dividend of $0.31 per
share and expect that this will be the first of many attractive dividends for
our shareholders for years to come.
ABOUT AMERICAN CAPITAL AGENCY
American Capital Agency is a real estate investment trust (REIT) formed in
2008 to invest exclusively in agency pass-through securities and
collateralized mortgage obligations for which the principal and interest
payments are guaranteed by a U.S. Government agency or a U.S.
Government-sponsored entity. The Company is externally managed and advised by
American Capital Agency Management, LLC, a wholly-owned subsidiary of a
wholly-owned portfolio company of American Capital Strategies, Ltd. (American
Capital) (Nasdaq: ACAS).
ABOUT AMERICAN CAPITAL
With $21 billion in capital resources under management(1), American
Capital is the only private equity fund and alternative asset management
company in the S&P 500. American Capital, both directly and through its
global asset management business, is an investor in management and employee
buyouts, private equity buyouts and early stage and mature private and public
companies. American Capital provides senior debt, mezzanine debt and equity
to fund growth, acquisitions, recapitalizations and securitizations. American
Capital and its affiliates invest from $5 million to $800 million per company
in North America and euro 5 million to euro 500 million per company in Europe.
This press release contains forward-looking statements. Forward-looking
statements are not guarantees of future performance and are subject to various
factors and uncertainties in predicting future results and conditions.
Forward-looking statements can be identified by the fact that they do not
relate strictly to historical or current facts. They often include words such
as believe, expect, anticipate, estimate and intend or future or
conditional verbs such as will, would, should, could or may. Certain
factors that could cause actual results to differ materially from expected
results include changes in interest rates, changes in the yield curve, changes
in prepayment rates, the availability and terms of financing, changes in the
market value of our assets, general economic conditions, market conditions,
conditions in the market for agency securities, and legislative and regulatory
changes that could adversely affect the business of the Company. For a
discussion of the risks and uncertainties which could cause actual results to
differ from those contained in the forward-looking statements, see Risk
Factors in the Company's Registration Statement on Form S-11, as amended,
filed with the Securities and Exchange Commission on May 14, 2008 (the
Registration Statement). The Company disclaims any obligation or undertaking
to publicly release any updates or revisions to any forward-looking statement
for any reason, except as otherwise required by law. Persons considering an
investment in the Company should consider the investment objectives, risks and
charges and expenses of the Company carefully before investing. Such
information and other information about the Company is available in the
Company's Registration Statement filed with the Securities and Exchange
Commission. Copies are available on the SEC's website, www.sec.gov.
Prospective investors should read such material carefully before investing.
(1) Capital resources under management is an estimate of internally and
externally managed assets and available capital resources as of May
31, 2008 and does not include any fair value adjustments subsequent to
March 31, 2008.
SOURCE American Capital Agency Corp.
John Erickson, Chief Financial Officer
or Tom McHale, Senior
Vice President, Finance, American Capital
or Justin Cressall, Vice President,
Equity Capital Markets, American Capital, +1-301-968-9300
Web site: http://www.americancapital.com