UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
Form
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of
Report (Date of earliest event reported): April 1,
2010
Bimini
Capital Management, Inc.
(Exact
Name of Registrant as Specified in Charter)
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Maryland
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001-32171
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72-1571637
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(State
or Other Jurisdiction of Incorporation)
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(Commission File
Number)
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(IRS
Employer Identification No.)
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3305
Flamingo Drive, Vero Beach, Florida 32963
(Address
of Principal Executive Offices) (Zip Code)
Registrant’s
telephone number, including area code (772) 231-1400
N/A
(Former
Name or Former Address, if Changed Since Last Report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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¨
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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ITEM
7.01. Regulation FD Disclosure.
On April
1, 2010, the Board of Directors of Bimini Capital Management, Inc. (the
“Company”) declared a cash dividend of $0.03 per share of Class A and Class B
Common Stock. The dividend is payable on April 30, 2010 to
stockholders of record as of April 15, 2010.
The
Company issued a press release announcing the dividend on April 5, 2010, which
is included as Exhibit 99.1. The press release attached is being
furnished to the SEC and shall not be deemed to be “filed” for any purpose as
otherwise provided.
ITEM
9.01 Financial
Statements and Exhibits.
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(d)
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Exhibits. The
following exhibits are being furnished with this Current Report on Form
8-K.
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99.1 Press
Release dated April 5, 2010.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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Date: April
5, 2010
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BIMINI
CAPITAL MANAGEMENT, INC.
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By:
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/s/
Robert E. Cauley
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Robert
E. Cauley
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Director,
Chairman of the Board and
Chief
Executive Officer
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Exhibit
99.1
BIMINI
CAPITAL MANAGEMENT DECLARES $0.03
FIRST
QUARTER 2010 DIVIDEND
VERO
BEACH, Fla. (April 5, 2010) - Bimini Capital Management, Inc. (OTCBB: BMNMD)
("Bimini Capital" or the "Company"), a real estate investment trust ("REIT"),
today announced that its Board of Directors has declared a cash dividend of
$0.03 per share of Class A and Class B Common Stock for the quarter ended
March 31, 2010. The
dividend is payable April 30, 2010, to stockholders of record on April 15,
2010.
About
Bimini Capital Management
Bimini
Capital Management, Inc. is a REIT that invests primarily in, but is not limited
to, residential mortgage-related securities issued by the Federal National
Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation
(Freddie Mac) and the Government National Mortgage Association (Ginnie Mae). Its
objective is to earn returns on the spread between the yield on its assets and
its costs, including the interest expense on the funds it borrows.
Statements
herein relating to matters that are not historical facts are forward-looking
statements as defined in the Private Securities Litigation Reform Act of 1995,
including but not limited to any financial or operating results during the
fourth quarter of 2009. The reader is cautioned that such forward-looking
statements are based on information available at the time and on management's
good faith belief with respect to future events, and are subject to risks and
uncertainties that could cause actual performance or results to differ
materially from those expressed in such forward-looking statements. Important
factors that could cause such differences are described in Bimini Capital
Management, Inc.'s filings with the Securities and Exchange Commission,
including Bimini Capital Management, Inc.'s most recent Annual Report on Form
10-K or Quarterly Report on Form 10-Q. Bimini Capital Management, Inc. assumes
no obligation to update forward-looking statements to reflect subsequent
results, changes in assumptions or changes in other factors affecting
forward-looking statements.
CONTACT:
Bimini
Capital Management, Inc.
Robert E.
Cauley, 772-231-1400
Chairman
and Chief Executive Officer
www.biminicapital.com