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Financial Sector Update for 12/22/2015: RESI, MVC, VRTA

Top Financial Stocks

JPM -0.06%

BAC +0.4%

WFC +0.5%

C +0.1%

USB +0.1%

Financial stocks were moderately higher this afternoon, with the NYSE Financial Sector Index (^NYK) climbing about 0.5% and the S&P Financial 100 Index (^IXM) posting a 0.7% advance.

In company news, Altisource Residential ( RESI ) declined Tuesday after the real estate investment trust late yesterday declared quarterly dividend of $0.10 per share, a nearly 82% decrease from its distribution of $0.55 per share during the previous quarter.

Overall during 2015, Altisource will have returned $1.75 per share to investors. The Q4 dividend is payable Jan. 15 to shareholders of record on Dec. 31.

RESI shares were down over 4% today at $13.35 each, earlier sinking as low as $12.76 a share.

In other sector news,

(+) MVC, Declares special dividend of $0.17 per share in addition to regular quarterly distribution of $0.135 per share, unchanged from its previous dividend. Both distributions are payable Jan. 8 to shareholders of record on Dec. 31.

(-) VRTA, Announces plans to voluntarily delist and deregister its common stock from the Nasdaq Capital Market and begin trading on Pink Sheets. Expects to formally notify regulators of the decision by Dec. 31.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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