secwatch.observer — SEC 8-K summary
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Issuer:     Ellington Financial Inc. (EFC)
CIK:        0001411342
Form:       8-K
Filed at:   2024-02-27T23:59:59+00:00
Accession:  0001411342-24-000016
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ellington Financial Q4 net income $0.18/share; proposes monthly dividend cut to $0.13
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- Q4 2023 net income to common $12.5M ($0.18/share); Adj. Distributable Earnings $18.9M ($0.27/share).
- Management recommends reducing monthly dividend from $0.15 to $0.13 starting March, implying 12.8% yield.
- Book value per share $13.83; merger with Arlington closed Dec 14 ~1.1% dilutive to book value.
- Credit portfolio net income $12.7M; Agency $14.6M; Longbridge net loss $3.4M.
- Recourse debt-to-equity 2.0:1; total debt-to-equity 8.6:1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1411342/000141134224000016/0001411342-24-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1411342/000141134224000016/efc-20240226.htm
  HTML page:      https://secwatch.observer/filing/0001411342-24-000016

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