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News and Information Article
- Annualized dividend yield 12.1%
- Dividend growth of 20.1% for the full 2006 calendar year versus the full
2005 calendar year
SAN FRANCISCO, Dec. 18 /-FirstCall/ -- The Board of Directors
of Luminent Mortgage Capital, Inc. (NYSE: LUM) today declared a cash
dividend for the fourth quarter of 2006 of $0.30 per share, payable on
January 31, 2007 to stockholders of record on December 29, 2006. With the
declaration of its fourth quarter of 2006 cash dividend, Luminent has
delivered dividend growth of 20.1% for the full 2006 calendar year versus
the full 2005 calendar year. The fourth quarter of 2006 cash dividend of
$0.30 per share also represents a 900% increase over the fourth quarter of
2005 cash dividend of $0.03 per share. Luminents annualized dividend
yield, based on its fourth quarter of 2006 cash dividend and the December
18, 2006 closing stock price of $9.88, is 12.1%.
"We are very pleased that Luminent continues to pay a robust and
consistent dividend," said Gail P. Seneca, Luminents Chairman of the Board
and Chief Executive Officer. "Our high quality, recurring cash flows should
continue to support our dividend into 2007."
Luminent is organized and conducts its operations so as to qualify as a
real estate investment trust for federal income tax purposes. Luminents
principal activity is to invest in mortgage-backed securities and loans,
thereby providing capital to the single family residential housing market.
Luminents website can be found at http://www.luminentcapital.com.
This news release and Luminents filings with the Securities and
Exchange Commission contain forward-looking statements that predict or
describe future events or trends. The matters described in these
forward-looking statements are subject to known and unknown risks,
uncertainties and other unpredictable factors, many of which are beyond
Luminents control and are based on the information, including estimates,
currently available to Luminents management. Luminent faces many risks
that could cause its actual performance to differ materially from the
results expressed or implied by its forward-looking statements, including,
without limitation, the possibilities that interest rates may change, that
principal payment rates may change, that mortgage-backed securities or
mortgage loans may not be available for purchase on favorable terms, that
borrowings to finance the purchase of assets may not be available on
favorable terms, that Luminent may not be able to maintain its dividend or
the yield on its common stock, that Luminent may not be able to maintain
its qualification as a REIT for federal income tax purposes, that Luminent
may experience the risks associated with investing in real estate,
including changes in business conditions and the general economy, that
Luminents recently adopted business strategy to purchase mortgage loans
for securitization may not be successful, and that Luminents strategies
may not be effective (including portfolio management and hedging strategies
and strategy to protect net interest spreads). Luminents filings with the
Securities and Exchange Commission contain a more complete description of
these and many other risks to which Luminent is subject. Because of those
risks, Luminents actual results, performance or financial condition may
differ materially from the results, performance or financial condition
contemplated by its forward-looking statements. The information set forth
in this news release represents managements current expectations and
intentions. Luminent assumes no responsibility to update or revise any
forward-looking statements, whether as a result of new information, future
developments or otherwise.
CONTACT: Christopher J. Zyda, Senior Vice President & Chief Financial
Officer, +1-415-217-4500, or ir@luminentcapital.com
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