ARMOUR Residential REIT, Inc. Reports 19.6% Annualized Dividend Rate for Q3 2010

/ Source: GlobeNewswire

VERO BEACH, Fla., Sept. 14, 2010 (GLOBE NEWSWIRE) -- ARMOUR Residential REIT, Inc. (NYSE Amex:ARR) (NYSE Amex:ARR-WS) ("ARMOUR" or the "Company") today announced that its Board of Directors has declared a $0.36 dividend payable to shareholders of record on Thursday, September 23 with an ex-dividend date of Tuesday, September 21, 2010. The dividend will be paid on Friday, October 29, 2010. The Company also announced that dividends will be paid on a monthly basis starting in January 2011.

  • $0.36 dividend equals annualized taxable yield on June 30, 2010 equity of 19.6%
  • The dividend will be paid from estimated Q3 2010 taxable REIT earnings
  • Starting in January 2011, the Company will pay dividends monthly
  • The fourth quarter 2010 dividend will be announced and paid in December 2010

ARMOUR Residential REIT, Inc.

ARMOUR is a Maryland corporation that invests primarily in hybrid adjustable rate, adjustable rate and fixed rate residential mortgage-backed securities, or RMBS, issued or guaranteed by U.S. Government-chartered entities.   ARMOUR is externally managed and advised by ARMOUR RESIDENTIAL MANAGEMENT LLC ("ARRM").  ARMOUR Residential REIT, Inc. intends to qualify to be taxed as a real estate investment trust ("REIT") for U.S. federal income tax purposes, commencing with ARMOUR's taxable year ending December 31, 2009.

Safe Harbor

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995.  Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events.  Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements.  These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.

Additional information concerning these and other risk factors is contained in the Company's most recent filings with the Securities and Exchange Commission ("SEC").  All subsequent written and oral forward-looking statements concerning the Company are expressly qualified in their entirety by the cautionary statements above.  The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made.  The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.

Additional Information and Where to Find It

Investors, security holders and other interested persons may find additional information regarding the Company at the SEC's Internet site at , or the Company website   or by directing requests to: ARMOUR Residential REIT, Inc., 956 Beachland Blvd., Suite #11, Vero Beach, Florida 32963, Attention: Investor Relations.

CONTACT: ARMOUR Residential REIT, Inc. Jeffrey Zimmer, Co-Chief Executive Officer, President and Vice Chairman (772) 617-4340