CreXus Investment Boosts 3rd Quarter 2012 Dividend to $0.32 per Share
The Board of Directors of CreXus Investment Corp. (NYSE: CXS) declared the third quarter 2012 common stock cash dividend of $0.32 per common share. This dividend is payable October 25, 2012 to common shareholders of record on October 1, 2012. The ex-dividend date is September 27, 2012.
CreXus distributes dividends based on its current estimate of taxable earnings per common share, not GAAP earnings. Taxable and GAAP earnings will typically differ due to items such as differences in premium amortization and discount accretion, non-taxable unrealized and realized gains and losses, credit loss recognition, and non-deductible general and administrative expenses.
CreXus acquires, manages and finances, directly or through its subsidiaries, commercial mortgage loans and other commercial real estate-related debt, commercial real property, commercial mortgage-backed securities, other commercial real estate-related assets and, to the extent necessary for regulatory purposes, residential mortgage-backed securities. Our principal business objective is to provide attractive risk-adjusted returns to our investors over the long-term, primarily through dividends and secondarily through capital appreciation. We are a Maryland corporation that has elected to be taxed as a real estate investment trust (“REIT”).
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