Q2 2015 Highlights and Financial Information
• Q2 2015 Core Income, including drop income (as defined below), of $47.7 million, or $0.12 per Common share, which represents an 11.51% return on stockholders' equity at the beginning of the quarter and exceeds dividends paid in the quarter.
• Estimated taxable Real Estate Investment Trust ("REIT") income of approximately $38.4 million.
• Q2 2015 Generally Accepted Accounting Principles ("GAAP") net income of approximately $198.0 million or $0.55 per Common share.
• Stockholders' equity as of June 30, 2015, was approximately $1.59 billion or $3.96 per Common share
• June 30, 2015 "leverage" (debt to stockholders' equity) was 8.46 to 1 (9.05 to 1, including ("to-be-determined") TBA Agency Securities purchased forward and excluding debt related to forward settling sales)
• Liquidity as of June 30, 2015, consisting of cash and unpledged securities, of approximately $885.0 million, or 55.77% of stockholders' equity.
• Q2 2015 average yield on assets of 2.60% and average net interest margin of 1.36%.
• Q2 2015 annualized average principal repayment rate (CPR) of 8.11%.
• Commencing August 3, 2015, with the effectiveness of the previously announced Reverse Stock Split, a total of 9 million Common shares will be authorized for repurchase under the program, which represents an approximately 71% increase compared to today's remaining authorization.
• Stock outstanding as of June 30, 2015:
Common - 350,271,160 shares (approximately 43,750,000 after Reverse Stock Split)
Series A Cumulative Redeemable Preferred Stock ("Series A Preferred Stock") - 2,180,572 shares
Series B Cumulative Redeemable Preferred Stock ("Series B Preferred Stock") - 5,650,000 shares
• Q2 2015 weighted average diluted Common shares were 352,175,000.
• On July 7, 2015, ARMOUR's wholly owned insurance subsidiary, SABRE Business Insurance LLC, became a member of the Federal Home Loan Bank of Des Moines.
• Additional updated information on the Company's investment, financing and hedge positions can be found in ARMOUR Residential REIT, Inc.'s most recent "Company Update." ARMOUR posts unaudited and unreviewed Company Updates each month on www.armourreit.com.
• Q2 2015 Core Income, including drop income (as defined below), of $47.7 million, or $0.12 per Common share, which represents an 11.51% return on stockholders' equity at the beginning of the quarter and exceeds dividends paid in the quarter.
• Estimated taxable Real Estate Investment Trust ("REIT") income of approximately $38.4 million.
• Q2 2015 Generally Accepted Accounting Principles ("GAAP") net income of approximately $198.0 million or $0.55 per Common share.
• Stockholders' equity as of June 30, 2015, was approximately $1.59 billion or $3.96 per Common share
• June 30, 2015 "leverage" (debt to stockholders' equity) was 8.46 to 1 (9.05 to 1, including ("to-be-determined") TBA Agency Securities purchased forward and excluding debt related to forward settling sales)
• Liquidity as of June 30, 2015, consisting of cash and unpledged securities, of approximately $885.0 million, or 55.77% of stockholders' equity.
• Q2 2015 average yield on assets of 2.60% and average net interest margin of 1.36%.
• Q2 2015 annualized average principal repayment rate (CPR) of 8.11%.
• Commencing August 3, 2015, with the effectiveness of the previously announced Reverse Stock Split, a total of 9 million Common shares will be authorized for repurchase under the program, which represents an approximately 71% increase compared to today's remaining authorization.
• Stock outstanding as of June 30, 2015:
Common - 350,271,160 shares (approximately 43,750,000 after Reverse Stock Split)
Series A Cumulative Redeemable Preferred Stock ("Series A Preferred Stock") - 2,180,572 shares
Series B Cumulative Redeemable Preferred Stock ("Series B Preferred Stock") - 5,650,000 shares
• Q2 2015 weighted average diluted Common shares were 352,175,000.
• On July 7, 2015, ARMOUR's wholly owned insurance subsidiary, SABRE Business Insurance LLC, became a member of the Federal Home Loan Bank of Des Moines.
• Additional updated information on the Company's investment, financing and hedge positions can be found in ARMOUR Residential REIT, Inc.'s most recent "Company Update." ARMOUR posts unaudited and unreviewed Company Updates each month on www.armourreit.com.