BETHESDA, Md., March 23 /PRNewswire-FirstCall/ -- American Capital Agency
Corp. (Nasdaq: AGNC) (the "Company") announced today that its Board of
Directors has declared a cash dividend of $0.85 per share for the first
quarter of 2009. The dividend is payable on April 27, 2009 to common
stockholders of record as of April 2, 2009 and has an ex-dividend date of
March 31, 2009.
"I am pleased with the progress we've made since early February
repositioning our investment portfolio," commented Gary Kain, Chief Investment
Officer of AGNC. "We've been able to take advantage of favorable market
conditions to diversify away from 100% fixed rate MBS and construct a
portfolio that we believe will better position us for today's dynamic market
environment. As part of the portfolio adjustments, we were able to generate
modest realized gains in the quarter to date. Furthermore, since the
beginning of the year, short term funding costs for agency MBS have declined
considerably, positively impacting our net interest spread. We believe the
actions taken in the quarter fortify our commitment to balance the protection
of book value while generating attractive risk-adjusted returns for our
AGNC is a 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
an affiliate of American Capital, Ltd. For further information, please refer
ABOUT AMERICAN CAPITAL
American Capital, Ltd. (Nasdaq: ACAS) is a publicly traded private equity
firm and global asset manager. American Capital, both directly and through its
asset management business, originates, underwrites and manages investments in
middle market private equity, leveraged finance, real estate and structured
products. Founded in 1986, American Capital has $14 billion in capital
resources under management and ten offices in the U.S., Europe and Asia. For
further information, please refer to www.AmericanCapital.com.
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. Persons considering an investment in the Company should consider the
risks and uncertainties which could cause actual results to differ from those
contained in the forward-looking statements, as well as the investment
objectives, charges and expenses of the Company carefully before investing.
Such information and other information about the Company is available in the
Company's Annual Report on Form 10-K for the year ended December 31, 2008,
filed with the Securities and Exchange Commission ("SEC") on February 17, 2009
and in subsequent periodic reports filed with the SEC. Copies are available
on the SEC's website, www.sec.gov. 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.
Investors - (301) 968-9300
Media - (301) 968-9400
SOURCE: American Capital Agency Corp.