ARMOUR Residential REIT Implements Reverse Stock Split, Maintains Dividend Rate and Provides Q4 Dividend Guidance

ARMOUR Residential REIT, Inc. has announced a one-for-five reverse stock split, which will take effect on September 29, 2023. This means that every five shares of common stock will be converted into one share. The company's common stock dividends for September 2023 will remain stable at $0.08 per share. Additionally, the company has provided guidance on common stock dividends for the fourth quarter of 2023, with a rate of $0.40 per share expected. The reverse stock split is aimed at attracting a broader range of investors and increasing the per share stock price.