On June 19, after the markets closed, Hatteras Financial (HTS) declared a Q2 dividend of $0.90 per share, which is unchanged compared to last quarter. The dividend will be paid on July 20, 2012, to shareholders of record on June 29, with an ex-dividend date of June 27. Hatteras has paid 90 cents for the last two quarters, but previously paid one dollar per quarter.
Last quarter, Hatteras reported that its net interest margin increased to 1.58% during Q1 of 2012 from 1.56% during Q4 of 2011 and 1.64% during Q3 of 2011. Hatteras reported that its weighted average coupon during the first quarter of 2012 was 3.38% , compared with 3.42% during the fourth quarter of 2011, and noted that the reduction was due to lower rates on HTS' new security purchases. During Q3 of 2011, Hatteras a 3.54% weighted average coupon.
Hatteras last stated that its repo debt-to-shareholders' equity ratio, or leverage rate, as of the end of Q1 was 6.2x, down from 7.8x at the end of 2011 and 7.9x at the end of Q3 2011. Hatteras commented that this difference in this leverage rate was largely due to a secondary stock offering that HTS announced on March 26, 2012, or just before the end of the quarter and just after going ex-dividend. This likely means that Hatteras subsequently increased its leverage rate, but such is no certainty.
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