Anworth Mortgage Asset Corp., Santa Monica, Calif., on Wednesday increased the conversion rate of its 6.25% series B cumulative convertible preferred stock to 3.6714 shares of its common stock from 3.6075 shares.
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The increase is the result of the addition of a common stock dividend of $0.21 per share payable on Jan. 27, 2012 to holders of record on common stock as of the close of business on Dec. 27.
The change, based on a formula specified on the company's website under the terms for the rights and preferences of the series B stockholders, is effective as of Dec. 28.
