Home Loan Servicing Solutions, Ltd. Increases Dividend to $0.12 Per Ordinary Share for Each of November and December 2012; Revi
November 15 2012 - 4:06PM
Home Loan Servicing Solutions, Ltd.TM ("HLSS" or the "Company")
(Nasdaq:HLSS) announced that today its Board of Directors increased
the dividend for the months of November and December 2012 by $0.01
to $0.12 per ordinary share. The dividend will be payable to
holders of record of our ordinary shares as follows:
Record Date |
Payment Date |
Amount per
Ordinary Share |
|
|
|
November 30, 2012 |
December 10, 2012 |
$0.12 |
|
|
|
December 31, 2012 |
January 10, 2013 |
$0.12 |
"HLSS increased dividends previously declared due to increased
earnings expectations, which resulted from lower than anticipated
prepayments through the middle of the fourth quarter," said
President John Van Vlack. "The October prepayment rate was 13.6%
despite a rebound in the number of loan modifications. With the
prepayment rate likely to remain below 15% for the fourth quarter,
we are revising earnings guidance to $0.40 to $0.41 per share. At
the lower end of our guidance, this dividend increase will bring
our dividend payout ratio for the full year within our targeted
range of 90-100% of net income over time."
For more information on prior releases and SEC Filings, please
refer to the "Shareholders" section of our website at
www.hlss.com.
Home Loan Servicing Solutions (HLSS) is an
internally managed owner of high quality mortgage servicing assets,
predominantly mortgage servicing advances and non-agency mortgage
servicing rights, which are highly overcollateralized with
historically stable net asset values. HLSS' primary investment
objective is to generate stable, recurring fee based earnings and
dividends throughout the economic cycle. For more information,
visit www.hlss.com.
This press release shall not constitute an offer to
sell or a solicitation of an offer to buy ordinary shares of the
Company, nor shall there be any sale of these ordinary shares in
any state or jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
CONTACT: James E. Lauter
Senior Vice President &
Chief Financial Officer
T: (561) 682-7561
E: James.Lauter@hlss.com
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