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Net increase in shareholders’ equity resulting from operations (“net income”) for the fourth quarter was $24.8 million or $1.19 per basic and diluted share. For the year ended December 31, 2012, net income was $97.1 million or $5.31 per share and represented an average return on equity of 22.5%.
Book value per share as of December 31, 2012 was $24.38 on a diluted basis after payment of a $0.70 per share third quarter dividend on December 17, 2012, as compared to book value per share of $23.88 on a diluted basis as of September 30, 2012.
The Company’s non-Agency MBS strategy generated gross income of $32.5 million for the quarter ended December 31, 2012. Performance was driven by yield earned on invested assets, as well as net realized and unrealized gains.
The Company’s Agency RMBS strategy generated gross income of $3.2 million for the quarter ended December 31, 2012, driven primarily by yield earned on invested assets and net realized gains.
The Company's Board of Directors declared a dividend of $0.77 per share for the fourth quarter of 2012. The Board also declared a special dividend of $0.75 per share for the fiscal year ended December 31, 2012. The quarterly dividend and the special dividend are both payable on March 15, 2013 to shareholders of record on March 1, 2013.
In addition, the Company's management announced that, subject to the ultimate discretion of the Board of Directors, it expects to continue to recommend quarterly dividends of $0.77 per share until conditions warrant otherwise. At the end of any year, the Board of Directors will take into account the Company's earnings and other factors and will consider whether to declare a special dividend. The Company's dividends are paid on a quarterly basis, in arrears.
The following information was filed by Ellington Financial Llc (EFC) on Wednesday, February 13, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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