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Anthracite Announces Treatment of 2008 Dividends

^{Published on 2009-01-30 14:37:33, Last Modified on 2009-01-30 14:39:35 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Anthracite Capital, Inc. ("Anthracite" or the "Company") (NYSE:AHR) today announced the tax treatment of its 2008 common and preferred stock dividend payments.

Common Stock Dividends

During 2008, taxable dividends for the Company's Common Stock (CUSIP #037023108) were $0.932153 per share. As noted in the table below, a portion of the dividend paid on January 31, 2008 was treated as having been received by stockholders and taxable for 2007. The following table summarizes the Common Stock dividends that are taxable for 2008. No portion of these dividends will be taxable in 2009.

* All ordinary income

Series C Preferred Stock Dividends

During 2008, taxable dividends for Anthracite Capital's Series C Preferred Stock (CUSIP #037023306) were $2.343750 per share. The entire fourth quarter 2007 common stock dividend was treated as having been received by stockholders and taxable for 2008. The following table summarizes the Series C Preferred Stock dividends that are taxable for 2008. No portion of these dividends will be taxable in 2009.

* All ordinary income

Series D Preferred Stock Dividends

During 2008, taxable dividends for Anthracite Capital's Series D Preferred Stock (CUSIP #037023405) were $2.062500 per share. The following table summarizes the Series D Preferred Stock dividends that are taxable for 2008. No portion of these dividends will be taxable in 2009.

* All ordinary income

Series E Preferred Stock Dividends

During 2008, taxable dividends for Anthracite Capital's Series E-1 and E-2 Preferred Stock were $69.00 per share. Due to the conversion of the Company's Series E-3 Preferred Stock into Common Stock on June 20, 2008, Series E-3 taxable dividends for 2008 totaled $25.67 per share and are all ordinary income. The following table summarizes the Series E-1 and E-2 Preferred Stock dividends that are taxable for 2008. No portion of these dividends will be taxable in 2009.

* All ordinary income

This release is not intended to constitute tax, legal, investment, or other professional advice. This is general information and should not be relied upon for tax purposes. Stockholders should be aware that tax treatment is subject to change by law in the future and retroactively. Stockholders should consult their tax advisor for tax guidance pertinent to specific facts and circumstances.

About Anthracite

Anthracite Capital, Inc. is a specialty finance company focused on investments in high yield commercial real estate loans and related securities. Anthracite is externally managed by BlackRock Financial Management, Inc., which is a subsidiary of BlackRock, Inc. (NYSE:BLK), one of the largest publicly traded investment management firms in the United States with approximately $1.307 trillion in global assets under management at December 31, 2008. BlackRock Realty Advisors, Inc., another subsidiary of BlackRock, Inc., provides real estate equity and other real estate-related products and services in a variety of strategies to meet the needs of institutional investors.

Forward-Looking Statements

This release, and other statements that Anthracite may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, with respect to Anthracite's future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as "trend," "potential," "opportunity," "pipeline," "believe," "comfortable," "expect," "anticipate," "current," "intention," "estimate," "position," "assume," "outlook," "continue," "remain," "maintain," "sustain," "seek," "achieve," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "may" or similar expressions.

Anthracite cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and Anthracite assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

In addition to factors previously disclosed in Anthracite's SEC reports and those identified elsewhere in this release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: (1) the introduction, withdrawal, success and timing of business initiatives and strategies; (2) changes in political, economic or industry conditions, the interest rate environment or financial and capital markets, which could result in changes in the value of Anthracite's assets and liabilities; (3) the amount and timing of any future margin calls and their impact on the Company's financial condition and liquidity; (4) the Company's ability to meet its liquidity requirements to continue to fund its business operations, including its ability to renew the existing facilities or obtain replacement financing, to meet margin calls and amortization payments under the facilities; (5) the relative and absolute investment performance and operations of BlackRock Financial Management, Inc., Anthracite's manager (the "Manager"); (6) the impact of increased competition; (7) the impact of future acquisitions or divestitures; (8) the unfavorable resolution of legal proceedings; (9) the impact of legislative and regulatory actions and reforms and regulatory, supervisory or enforcement actions of government agencies relating to Anthracite or the Manager; (10) terrorist activities and international hostilities, which may adversely affect the general economy, domestic and global financial and capital markets, specific industries, and Anthracite; (11) the ability of the Manager to attract and retain highly talented professionals; (12) fluctuations in foreign currency exchange rates; and (13) the impact of changes to tax legislation and, generally, the tax position of the Company.

Anthracite's Annual Report on Form 10-K for the year ended December 31, 2007 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2008, and Anthracite's subsequent filings with the SEC, accessible on the SEC's website at [ www.sec.gov ], identify additional factors that can affect forward-looking statements.

To learn more about Anthracite, visit our website at [ www.anthracitecapital.com ].The information contained on the Company's website is not a part of this release.