SUBSEQUENT EVENTS |
6 Months Ended |
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Jun. 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 June 30, 2016 through the issuance of these Consolidated Financial Statements.
On July 12, 2016, Newcastle declared a quarterly dividend of $0.12 per common share, for the quarter ended June 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 May 1, 2016 and ending July 31, 2016. Dividends totaling $9.4 million were paid in July 2016.
On July 14, 2016, Newcastle settled on a trade to sell $353.6 million face amount of agency FNMA/FHLMC fixed-rate securities at an average price of 105.5% of par for total proceeds of $373.1 million and repaid $361.1 million of repurchase agreements associated with these securities (see Note 5).
On July 14, 2016, Newcastle settled on a trade to purchase $428.9 million face amount of agency FNMA/FHLMC fixed-rate securities at an average price of 105.7% of par for total proceeds of $453.1 million. This transaction was financed with $434.9 million of repurchase agreements (see Note 5).
On July 15, 2016, Newcastle issued an aggregate of 21,798 shares of its common stock to its independent directors as a component of their annual compensation.
On August 2, 2016, Newcastle entered into a trade to purchase $249.6 million face amount of agency FNMA/FHLMC fixed-rate securities at an average price of 103.9% of par for total proceeds of $259.3 million. This transaction was financed with $248.7 million of repurchase agreements.
On August 5, 2016, Newcastle entered into a trade to purchase $116.8 million face amount of agency FNMA/FHLMC fixed-rate securities at an average price of 105.7% of par for total proceeds of $123.5 million. This transaction was financed with $118.6 million of repurchase agreements.
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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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