ARLINGTON, Va., June 7, 2017 /PRNewswire/ -- Arlington Asset Investment Corp. (NYSE: AI) (the "Company") today announced that its Board of Directors authorized an initial dividend of $0.238 per share of its 7.00% Series B Cumulative Perpetual Redeemable Preferred Stock (NYSE: AI PrB) (the "Series B Preferred Stock") covering the period from May 12, 2017 to, but excluding, June 30, 2017. The dividend will be payable on June 30, 2017 to shareholders of record of the Series B Preferred Stock on June 19, 2017.
The tax characterization to shareholders of the distribution will be determined after the end of the calendar year and will be reported to shareholders on Form 1099-DIV. To the extent the Company has current or accumulated earnings and profits for the year, distributions would be reported as dividends. Because the Company is taxed as a C-corporation for U.S. federal tax purposes, any dividends would be qualified dividends eligible for the reduced capital gains rates. Any distributions in excess of earnings and profits for the year would be classified as nontaxable returns of capital to the extent they do not exceed a shareholder's adjusted tax basis in the Company's stock, or as a capital gain to the extent that the amount of the distribution exceeds a shareholder's adjusted tax basis in the Company's stock.
About the Company
Arlington Asset Investment Corp. (NYSE: AI) is a principal investment firm that currently invests primarily in mortgage-related and other assets. The Company is headquartered in the Washington, D.C. metropolitan area. For more information, please visit www.arlingtonasset.com.
Certain statements in this press release are forward-looking as defined by the Private Securities Litigation Reform Act of 1995. These include statements regarding dividend payments. Forward-looking statements can be identified by forward-looking language, including words such as "believes," "expects," "anticipates," "estimates," "plans," "continues," "intends," "should", "may," and similar expressions. Due to known and unknown risks, including the risk that the assumptions on which the forward-looking statements are based prove to be inaccurate, actual results may differ materially from expectations or projections. These risks also include those described in the Company's Annual Report on Form 10-K for the year ended December 31, 2016 and other documents filed by the Company with the Securities and Exchange Commission from time to time. Readers of this press release are cautioned to consider these risks and uncertainties and not to place undue reliance on any forward-looking statements. The Company does not undertake any obligation to update any forward-looking statement, whether written or oral, relating to matters discussed in this press release, except as may be required by applicable securities laws.
SOURCE Arlington Asset Investment Corp.