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RY - Royal Bank Of Canada News Story

C$88.03 5.1  6.2%

Last Trade - 26/05/20

Sector
Financials
Size
Large Cap
Market Cap £69.43bn
Enterprise Value £228.49bn
Revenue £27.74bn
Position in Universe 2nd / 2660

BUZZ-Mortgage REIT MFA rallies as co revokes Q1 qtrly dividends

Thu 26th March, 2020 12:25pm
** MFA Financial  MFA.N  jumps 55% to $1.77 premarket as co
revokes Q1 qtrly dividends on its common and preferred stocks
    ** Common stock dividend of $0.20, declared on Mar 11, was
to be paid on Apr 30 to all holders of record as of Mar 30; 7.5%
Series B preferred stock dividend was declared on Feb 14
 urn:newsml:reuters.com:*:nPnbtL1S7a
    ** Co says will continue to evaluate payment of dividends as
market conditions evolve
    ** On Tues, MFA's shares plunged 87% to 36 cents after co
joined several mortgage REIT peers warning they would not be
able to meet near-term margin calls due to market disruptions
created by the COVID-19 pandemic
    ** On Weds, MFA more than tripled as the sector rebounded
amid broader market gains on stimulus hopes  urn:newsml:reuters.com:*:nL1N2BI20L
    ** Other sector gainers premarket on Thurs: Invesco Mortgage
Capital Inc  IVR.N  and New York Mortgage Trust  NYMT.O  both up
~15%, while AG Mortgage Investment Trust  MITT.N  gaining ~25%
    ** AG Mortgage, which on Mon reported an "unusually high"
number of margin calls from financing counterparties, seeks
ruling to prevent Royal Bank of Canada  RY.TO   RY.N  from
auctioning off mortgage debt  urn:newsml:reuters.com:*:nL1N2BI2FP
   

 (Reporting by Lance Tupper)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))
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