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Arlington Asset Investment skips Q1 dividend

Arlington Asset Investment Corp. determined not to declare a first-quarter common stock dividend to preserve liquidity amid volatile market conditions related to the coronavirus pandemic.

The declaration and payment of future dividends on its common stock, 7.00% series B cumulative perpetual redeemable stock and 8.250% series C fixed-to-floating cumulative redeemable preferred stock will be evaluated at a future date, according to a news release.

Additionally, the company said in the news release that it has satisfied all of its margin calls under its current financing arrangements. It also disclosed that it de-levered its investment portfolio and estimates that its at-risk short term secured financing to investable capital ratio has been reduced to approximately 1.6 to 1 from 8.7 to 1 as of Dec. 31, 2019.

The company estimates that its book value per common share as of March 24 has declined in a range of about 32% to 36% since Dec. 31, 2019.

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