ARMOUR Residential approves one-for-eight reverse stock split ARMOUR Residential has approved a reverse stock split of ARMOUR's outstanding shares of common stock at a ratio of one-for-eight. The reverse stock split is scheduled to take effect at about 5:00 p.m. Eastern Time on July 31. The par value of each share of common stock will remain unchanged. Trading in ARMOUR's common stock on a split adjusted basis is expected to begin at the market open on August 3. ARMOUR's common stock will continue trading on the NYSE under the symbol "ARR" but will be assigned a new CUSIP number. The average book value of ARMOUR's common stock over the last five trading sessions was approximately $4.00 per share, which is approximately 28% above last night's closing price of $2.87. As a result of the reverse stock split, the number of outstanding shares of common stock will be reduced from approximately 350M to approximately 43.75M. Concurrently, the authorized number of shares of common stock will be reduced from 1B to 125M. Each stockholder holding fractional shares will be entitled to receive cash.