UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934


November 5, 2020
Date of Report (Date of earliest event reported)

ANWORTH MORTGAGE ASSET CORPORATION
(Exact Name of Registrant as Specified in its Charter)

Maryland
(State or Other Jurisdiction of Incorporation)

001-13709
52-2059785
(Commission File Number)
(IRS Employer Identification No.)

1299 Ocean Avenue, 2nd Floor, Santa Monica, California
90401
(Address of Principal Executive Offices)
(Zip Code)

(310) 255-4493
(Registrant's Telephone Number, Including Area Code)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class
 
Trading Symbol(s)
 
Name of each exchange on which registered
Common Stock, $0.01 Par Value
 
ANH
 
New York Stock Exchange
Series A Cumulative Preferred Stock, $0.01 Par Value
 
ANHPRA
 
New York Stock Exchange
Series B Cumulative Convertible Preferred Stock, $0.01 Par Value
 
ANHPRB
 
New York Stock Exchange
Series C Cumulative Redeemable Preferred Stock, $0.01 Par Value
 
ANHPRC
 
New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act or Rule 12b-2 of the Exchange Act.
 
Emerging growth company
   
   
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐


Item 8.01.
Other Events.

On November 5, 2020, Anworth Mortgage Asset Corporation (the “Company”) issued a press release (the “Press Release”) announcing that its board of directors (the “Board”) declared a dividend of $0.539063 per share on the Company’s 8.625% Series A Cumulative Preferred Stock for the fourth quarter of 2020. The Company also announced that the Board declared a dividend of $0.390625 per share on the Company’s 6.25% Series B Cumulative Convertible Preferred Stock for the fourth quarter of 2020. The Company also announced that the Board declared a dividend of $0.476563 per share on the Company’s 7.625% Series C Cumulative Redeemable Preferred Stock for the fourth quarter of 2020.

A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

As discussed therein, the press release contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and, as such, may involve known and unknown risks, uncertainties and assumptions. These forward-looking statements relate to the Company’s current expectations and are subject to the limitations and qualifications set forth in the Press Release as well as in the Company’s other documents filed with the United States Securities and Exchange Commission, including, without limitation, that actual events and/or results may differ materially from those projected in such forward-looking statements.

Item 9.01
Financial Statements and Exhibits.

(a)
 
Not Applicable.
     
(b)
 
Not Applicable.
     
(c)
 
Not Applicable.
     
(d)
 
Exhibits.
     
   
Exhibit 99.1
     
   
Press Release dated November 5, 2020 announcing preferred dividend information.

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 
ANWORTH MORTGAGE ASSET CORPORATION  
 
 
 
 
Date: November 5, 2020
By:
/s/ Charles J. Siegel
 
 
 
     Chief Financial Officer
 

3

EXHIBIT INDEX

Exhibit #
Description
   


4
Exhibit 99.1

Anworth Announces Preferred Stock Dividends

SANTA MONICA, Calif.--(BUSINESS WIRE)--November 5, 2020--Anworth Mortgage Asset Corporation (NYSE: ANH) announced today that in accordance with the terms of Anworth’s 8.625% Series A Cumulative Preferred Stock (“Series A Preferred Stock”), the board of directors (the “Board”) declared a Series A Preferred Stock dividend of $0.539063 per share for the fourth quarter of 2020. The Series A Preferred Stock dividend is payable on January 15, 2021 to holders of record of Series A Preferred Stock as of the close of business on December 31, 2020. The dividend reflects the period from October 1, 2020 through December 31, 2020.

Also, in accordance with the terms of Anworth’s 6.25% Series B Cumulative Convertible Preferred Stock (“Series B Preferred Stock”), the Board declared a Series B Preferred Stock dividend of $0.390625 per share for the fourth quarter of 2020. The Series B Preferred Stock dividend is payable on January 15, 2021 to holders of record of Series B Preferred Stock as of the close of business on December 31, 2020. The dividend reflects the period from October 1, 2020 through December 31, 2020.

Also, in accordance with the terms of Anworth’s 7.625% Series C Cumulative Redeemable Preferred Stock (“Series C Preferred Stock”), the Board declared a Series C Preferred Stock dividend of $0.476563 per share for the fourth quarter of 2020. The Series C Preferred Stock dividend is payable on January 15, 2021 to holders of record of Series C Preferred Stock as of the close of business on December 31, 2020. The dividend reflects the period from October 1, 2020 through December 31, 2020.


About Anworth Mortgage Asset Corporation

We are an externally-managed mortgage real estate investment trust (“REIT”). We invest primarily in mortgage-backed securities that are either rated “investment grade” or are guaranteed by federally sponsored enterprises, such as Fannie Mae or Freddie Mac. We seek to generate income for distribution to our shareholders primarily based on the difference between the yield on our mortgage assets and the cost of our borrowings. We are managed by Anworth Management LLC (our “Manager”), pursuant to a management agreement. Our Manager is subject to the supervision and direction of our Board and is responsible for (i) the selection, purchase, and sale of our investment portfolio; (ii) our financing and hedging activities; and (iii) providing us with portfolio management, administrative, and other services and activities relating to our assets and operations as may be appropriate. Our common stock is traded on the New York Stock Exchange under the symbol “ANH.” Anworth Mortgage Asset Corporation is a component of the Russell 2000® Index.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based upon our current expectations and speak only as of the date hereof. Forward-looking statements, which are based on various assumptions (some of which are beyond our control) may be identified by reference to a future period or periods or by the use of forward-looking terminology, such as “may,” “will,” “believe,” “expect,” “anticipate,” “assume,” “estimate,” “intend,” “continue,” or other similar terms or variations on those terms or the negative of those terms. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including but not limited to, changes in interest rates; changes in the market value of our mortgage-backed securities; changes in the yield curve; the availability of mortgage-backed securities for purchase; increases in the prepayment rates on the mortgage loans securing our mortgage-backed securities; our ability to use borrowings to finance our assets and, if available, the terms of any financing; risks associated with investing in mortgage-related assets; the scope and duration of the COVID-19 coronavirus pandemic, including actions taken by governmental authorities to contain the spread of the virus, and the impact on our business and the general economy; changes in business conditions and the general economy; implementation of or changes in government regulations affecting our business; our ability to maintain our qualification as a real estate investment trust for federal income tax purposes; our ability to maintain an exemption from the Investment Company Act of 1940, as amended; risks associated with our home rental business; and our Manager’s ability to manage our growth. Our Annual Report on Form 10-K and other SEC filings discuss the most significant risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

Contacts

Anworth Mortgage Asset Corporation
John T. Hillman
1299 Ocean Avenue, 2nd Floor
Santa Monica, CA 90401
(310) 255-4438 or (310) 255-4493
Email: jhillman@anworth.com
Web site: http://www.anworth.com



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Nov. 05, 2020
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Entity Registrant Name ANWORTH MORTGAGE ASSET CORPORATION
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Entity Tax Identification Number 52-2059785
Entity Address, Address Line One 1299 Ocean Avenue
Entity Address, Address Line Two 2nd Floor
Entity Address, City or Town Santa Monica
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Trading Symbol ANH
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Series A Preferred Stock [Member]  
Entity Listings [Line Items]  
Title of 12(b) Security Series A Cumulative Preferred Stock, $0.01 Par Value
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Security Exchange Name NYSE
Series C Preferred Stock [Member]  
Entity Listings [Line Items]  
Title of 12(b) Security Series C Cumulative Redeemable Preferred Stock, $0.01 Par Value
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Security Exchange Name NYSE