SUBSEQUENT EVENTS |
9 Months Ended |
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Sep. 30, 2016 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS |
SUBSEQUENT EVENTS
These Consolidated Financial Statements include a discussion of material events, if any, that have occurred subsequent to September 30, 2016 through the issuance of these Consolidated Financial Statements.
On October 7, 2016, Newcastle purchased $776.9 million face amount of agency FNMA/FHLMC fixed-rate securities at an average price of 103.6% of par for total proceeds of $805.1 million. This transaction was financed with $769.6 million of repurchase agreements.
On October 13, 2016, Newcastle declared a quarterly dividend of $0.12 per common share, for the quarter ended September 30, 2016 and declared dividends of $0.609375, $0.503125, and $0.523438 per share on the 9.750% Series B, 8.050% Series C and 8.375% Series D preferred stock, respectively, for the period beginning August 1, 2016 and ending October 31, 2016. Dividends totaling $9.4 million were paid in October 2016.
On October 13, 2016, Newcastle settled on a trade to purchase $632.2 million face amount of agency FNMA/FHLMC fixed-rate securities at an average price of 104.9% of par for total proceeds of $663.5 million. This transaction was financed with $628.2 million of repurchase agreements (see Note 5).
On October 13, 2016, Newcastle settled on a trade to sell $817.2 million face amount of agency FNMA/FHLMC fixed-rate securities at an average price of 105.0% of par for total proceeds of $858.2 million. Newcastle repaid $831.7 million of repurchase agreements associated with these securities (see Note 5).
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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