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Western Asset Mortgage Capital Corporation Declares Fourth Quarter Dividend Of $0.31 Per Share

PASADENA, Calif., Dec. 21, 2017 /PRNewswire/ -- Western Asset Mortgage Capital Corporation (the "Company") (NYSE: WMC) announced today that its Board of Directors has declared a cash dividend of $0.31 per share for the fourth quarter of 2017. Today's dividend is payable on January 26, 2018 to common shareholders of record as of January 2, 2018, with an ex-dividend date of December 29, 2017.

In addition, the Company estimates that its book value per share, as of November 30, 2017, was approximately $11.41. The November 30, 2017 estimated book value is unaudited, has not been verified or reviewed by any third party and is subject to normal quarterly reconciliation and other procedures. Further, the estimated book value is as of November 30, 2017 and does not include the dividend announced today. Book value will fluctuate with market conditions, the results of the Company's operations and other factors. The Company's current book value may be materially different from the November 30, 2017 estimated book value.

ABOUT WESTERN ASSET MORTGAGE CAPITAL CORPORATION

Western Asset Mortgage Capital Corporation is a real estate investment trust that invests in, acquires and manages a diverse portfolio of assets consisting of Agency CMBS, Agency RMBS, Non-Agency CMBS, Non-Agency RMBS, Residential and Commercial Whole-Loans, Bridge Loans and other financial assets. The Company's investment strategy may change, subject to the Company's stated investment guidelines, and is based on its manager Western Asset Management Company's perspective of which mix of portfolio assets it believes provides the Company with the best risk-reward opportunities at any given time. The Company is externally managed and advised by Western Asset Management Company, an investment advisor registered with the Securities and Exchange Commission and a wholly-owned subsidiary of Legg Mason, Inc. Please visit the Company's website at www.westernassetmcc.com.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute "forward-looking statements." Operating results are subject to numerous conditions, many of which are beyond the control of the Company, including, without limitation, changes in interest rates; changes in the yield curve; changes in prepayment rates; the availability and terms of financing; general economic conditions; market conditions; conditions in the market for mortgage related investments; legislative and regulatory changes that could adversely affect the business of the Company; and other factors, including those set forth in the Risk Factors section of the Company's annual report on Form 10-K for the period ended December 31, 2016 filed with the Securities and Exchange Commission ("SEC"). The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

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SOURCE Western Asset Mortgage Capital Corporation