Breaking News

U.K. July Retail Sales Rise 0.1%; Median Estimate 0.4% Increase
Tweet TWEET

MFA Financial, Inc. Updates Status of 10-K Filing

              MFA Financial, Inc. Updates Status of 10-K Filing

-Company Also Declares Special Cash Dividend of $0.50 Per Share-

-Company Updates GAAP Book Value-

PR Newswire

NEW YORK, March 4, 2013

NEW YORK, March 4, 2013 /PRNewswire/ --MFA Financial, Inc. (NYSE:MFA)
announced today that it has filed a notice with the Securities and Exchange
Commission reporting that it would delay the filing of its Annual Report on
Form 10-K for the year ended December 31, 2012, because the Company is
completing a review of the Company's REIT taxable income calculations for
prior periods, as well as its estimate of REIT taxable income for 2012.

The Company expects that the review will result in its determining that REIT
taxable income for certain prior periods exceeded distributions made to
stockholders. The Company also expects that the review will result in its
estimating that REIT taxable income for 2012 exceeds distributions previously
made to stockholders in respect of such year, although the determination of
its REIT taxable income for 2012 will not be finalized until the timely filing
of its 2012 tax return, which is expected to occur in the third quarter of
2013. Consequently, the Company's Board of Directors today declared a special
cash dividend of $0.50 per share of common stock payable on April 10, 2013, to
stockholders of record on March 15, 2013. The special dividend reflects the
distribution of all of the Company's previously undistributed REIT taxable
income for 2010 and 2011, with the remainder available to satisfy a portion of
2012 taxable income undistributed to date.

The Company also announced today that its GAAP book value as of December 31,
2012, was $8.99 per share, and its GAAP book value as of January 31, 2013, was
$9.40 per share.

The Company does not expect that the results of the review of its REIT taxable
income calculations will have any material impact on the Company's previously
issued financial statements. In addition, the Company does not expect that
the review will have any impact on the Company's REIT status. Notwithstanding
the foregoing, the Company anticipates that it will report in its 2012 Form
10-K a material weakness in its internal control over financial reporting in
connection with the process for calculating its REIT taxable income, as well
as reporting the measures it is undertaking to remediate this matter.

MFA is a real estate investment trust primarily engaged in the business of
investment, on a leveraged basis, in Agency and Non-Agency residential
mortgage-backed securities.

Cautionary Statement Regarding Forward-Looking Information

When used in this filing, statements which are not historical in nature,
including those containing words such as "will," "believe," "expect,"
"anticipate," "estimate," "plan," "continue," "intend," "should," "may" or
similar expressions, are intended to identify "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended, and, as
such, may involve known and unknown risks, uncertainties and assumptions.
These statements regarding the following subjects, among others, may be
forward-looking: the Company's expected financial results; the timing of the
completion of the Company's review the Company's REIT taxable income
calculations; the impact of such review, including on the Company's previously
issued financial statements and REIT status; the timing and amount of
distributions made to the Company's stockholders; and the timing of the filing
of the Company's Annual Report on Form 10-K for the fiscal year ended December
31, 2012. These and other risks, uncertainties and factors, including those
described in the annual, quarterly and current reports that MFA files with the
Securities and Exchange Commission, could cause MFA's actual results to differ
materially from those projected in any forward-looking statements it makes.
All forward-looking statements speak only as of the date on which they are
made. New risks and uncertainties arise over time and it is not possible to
predict those events or how they may affect MFA. Except as required by law,
MFA is not obligated to, and does not intend to, update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.

CONTACT: MFA Investor Relations
         800-892-7547
         www.mfafinancial.com

SOURCE MFA Financial, Inc.

Website: http://www.mfafinancial.com
 
Press spacebar to pause and continue. Press esc to stop.