Invesco Mortgage Capital announces public offering, dividends

Invesco Mortgage Capital (IVR), a real estate investment trust, will make a public offering of 8.7 million shares of common stock, and declared a dividend for existing stock in the fourth quarter. The company reported $27.6 million in net income for the third quarter, up 25% from a year ago. On the public offering, Invesco will grant underwriters a 30-day option to purchase an additional 1.3 million shares to cover over-allotments. The company expects to use the proceeds to make more acquisitions of residential and commercial mortgage-backed securities and mortgage loans, as opposed to paying off debt. The dividend announced for the fourth quarter will be $0.97 per share paid on Jan. 27, 2011 to shareholders of record on Dec. 31, 2010. Write to Jon Prior.