The Board of Directors of Chimera Investment Corporation (NYSE: CIM) declared the fourth quarter 2012 common stock cash dividend of $0.09 per common share. This dividend is payable January 25, 2013, to common shareholders of record on December 31, 2012. The ex-dividend date is December 27, 2012.
As previously announced, the Company initiated a regular quarterly dividend of $0.09 per share for each of the third quarter and fourth quarter of 2012, portions of which may be ordinary income, capital gains or a return of capital. The Board of Directors has reviewed this program and has decided to maintain a quarterly dividend of $0.09 per share for each of the first quarter and second quarter of 2013. The Board of Directors will review this program after the conclusion of the second quarter of 2013. For the first three quarters of 2012, Chimera has paid cash dividends totaling $0.29 per common share. Of this amount, $0.06 is currently expected to be characterized as a return of capital for federal income tax purposes, although this estimate will not be finalized until the Company files its 2012 tax return.
The independent members of the Board of Directors also announced that they have agreed with the Company’s manager, Fixed Income Discount Advisory Company, to reduce the management fee to 0.75% from 1.50% per annum. The reduction is effective as of November 28, 2012, and will remain in effect until the Company is current on all of its filings required under applicable securities laws.
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