Arlington Asset Investment Corp. (NYSE: AI) reported that its Board of Directors authorized a quarterly dividend of $0.4375 per share of its 7.00% Series B Cumulative Perpetual Redeemable Preferred Stock (NYSE: AI PrB) (the “Series B Preferred Stock”) for the third quarter of 2017. The dividend will be payable on October 2, 2017 to shareholders of record of the Series B Preferred Stock on September 18, 2017.
In the last trading sessions, investors spotted positive action on shares of Arlington Asset Investment Corp (NYSE:AI). The stock has performed 0.31% and it registered share value at $12.86 after closing last trading transaction. At present, the stock price sited at -24.93% from the 52 week high and situated at 1.90% from52 week low. The Company’s beta coefficient sits at 1.18. Beta factor measures the amount of market risk associated with market trade.
The tax characterization to shareholders of the distribution will be determined after the end of the calendar year and will be reported to shareholders on Form 1099-DIV. To the extent the Company has current or accumulated earnings and profits for the year, distributions would be reported as dividends. Because the Company is taxed as a C-corporation for U.S. federal tax purposes, any dividends would be qualified dividends eligible for the reduced capital gains rates. Any distributions in excess of earnings and profits for the year would be classified as nontaxable returns of capital to the extent they do not exceed a shareholder’s adjusted tax basis in the Company’s stock, or as a capital gain to the extent that the amount of the distribution exceeds a shareholder’s adjusted tax basis in the Company’s stock.
Arlington Asset Investment Corp., an investment firm, acquires mortgage-related and other assets. The company acquires on a leveraged basis residential mortgage-backed securities (MBS) that are issued by the United States (U.S.) government agency, or guaranteed as to principal and interest by U.S. government agencies, or U.S. government-sponsored entities. It also acquires MBS issued by private organizations. The company was formerly known as Friedman, Billings, Ramsey Group, Inc. Arlington Asset Investment Corp. was founded in 1989 and is based in Arlington, Virginia.