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Anworth Mortgage Asset increases conversion rate of preferred stock

Anworth MortgageAsset Corp. said March 31 that the conversion rate for its 6.25% seriesB cumulative convertible preferred stock will increase to 4.5739 shares of its commonstock from 4.4909 shares, effective April 1.

The increase comes after the company's board declared a quarterlycommon stock dividend of 15 cents per share, payable April 29 to common shareholdersof record as of the close of business on March 31. When the company pays a cashdividend during any quarterly fiscal period to its common stockholders in an amountthat results in an annualized common stock dividend yield greater than 6.25%, theconversion rate on its series B preferred stock is adjusted based on a formula specifiedin the terms of the preferred share.