MFA Financial, Inc. Announces New Stock Repurchase and ATM Programs
29 Februar 2024 - 10:36PM
Business Wire
MFA Financial, Inc. (NYSE: MFA) (the “Company”) announced today
that its Board of Directors has authorized a new $200 million stock
repurchase program with respect to the Company’s common stock,
which will be in effect through the end of 2025. The Company's
prior stock repurchase program, which was adopted in March 2022,
had authorized the repurchase of up to $250 million of common stock
and expired on December 31, 2023, with approximately $202.5 million
remaining available at the date of expiration. The new stock
repurchase program supersedes the prior stock repurchase program in
its entirety.
The new stock repurchase program does not require the purchase
of any minimum number of shares. The timing and extent to which MFA
repurchases its shares will depend upon, among other things, market
conditions, share price, liquidity, regulatory requirements and
other factors, and repurchases may be commenced or suspended at any
time without prior notice. Acquisitions under the stock repurchase
program may be made in the open market, through privately
negotiated transactions or block trades or other means, in
accordance with applicable securities laws (including, in MFA’s
discretion, through the use of one or more plans adopted under Rule
10b5-1 promulgated under the Securities Exchange Act of 1934, as
amended).
The Company also filed a Form 8-K with the SEC today relating to
a new “at the market” (“ATM”) stock offering program for the
offering and sale by the Company from time to time of shares of the
Company’s common stock having an aggregate offering price of up to
$300 million.
“The Board’s authorization of new ATM and stock repurchase
programs will provide MFA with the flexibility to act efficiently
in a range of potential capital markets conditions,” commented
Michael Roper, MFA’s Senior Vice President and Chief Financial
Officer.
About MFA Financial, Inc.
MFA Financial, Inc. is a leading specialty finance
company that invests in residential mortgage loans, residential
mortgage-backed securities and other real estate assets. Through
its wholly owned subsidiary, Lima One Capital, MFA also originates
and services business purpose loans for real estate investors. MFA
has distributed over $4.7 billion in dividends to stockholders
since its initial public offering in 1998. MFA is an internally
managed, publicly traded real estate investment trust.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
and other federal securities laws. Forward-looking statements
involve numerous risks and uncertainties. The Company’s actual
results may differ from the Company’s beliefs, expectations,
estimates and projections and, consequently, you should not rely on
these forward-looking statements as predictions of future events.
Forward-looking statements are not historical in nature and can be
identified by words such as “anticipate,” “estimate,” “will,”
“should,” “expect,” “believe,” “intend,” “seek,” “plan” and similar
expressions or their negative forms, or by references to strategy,
plans, or intentions. Forward-looking statements are based on the
Company’s beliefs, assumptions and expectations of the Company’s
future performance, taking into account information currently
available to it. No assurance can be given that the offering
discussed above will be consummated, or that the net proceeds of
the offering will be used as indicated. Capital markets activities
are subject to numerous possible events, factors and conditions,
many of which are beyond the control of the Company and not all of
which are known to it, including, without limitation, market
conditions and other risks, uncertainties and factors identified in
the Company’s most recent Annual Report on Form 10-K and any
subsequent filings, which can be accessed at the Securities and
Exchange Commission’s website at www.sec.gov. All forward-looking
statements speak only as of the date on which they are made. New
risks and uncertainties arise over time, and it is not possible to
predict those events or how they may affect the Company. The
Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise, except as required by law.
Category: Stock Repurchase.
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InvestorRelations@mfafinancial.com 212-207-6488
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