8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 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) – December 16, 2004

ANWORTH MORTGAGE ASSET CORPORATION

(Exact name of Registrant as specified in its Charter)

Maryland	001-13709	52-2059785
(State or Other Jurisdiction of Incorporation or Organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

1299 Ocean Avenue, Suite 250, Santa Monica, California	90401
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (310) 255-4493

Not Applicable

(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 (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On December 16, 2004, Anworth Mortgage Asset Corporation issued a press release announcing that its Board of Directors had declared a dividend of $0.27 per share of the Company’s Common Stock and a dividend of $0.335417 per share of the Company’s 8.625% Series A Cumulative Preferred Stock for the fourth quarter of 2004. A copy of that release is furnished as Exhibit 99.1 to this report.

The information in this Current Report on Form 8-K is being is provided under Item 2.02 of Form 8-K and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

As discussed therein, the press release contains forward-looking statements within the meaning of the Securities Act and the Exchange Act and, as such, may involve known and unknown risks, uncertainties and assumptions. These forward-looking statements relate to Anworth’s current expectations and are subject to the limitations and qualifications set forth in the press release as well as in Anworth’s other documents filed with the SEC, including, without limitation, that actual events and/or results may differ materially from those projected in such forward-looking statements.

Item 9.01. Financial Statements and Exhibits.

(a) Not Applicable.

(b) Not Applicable.

(c) Exhibits.

Exhibit 99.1

Press Release dated December 16, 2004 of the Registrant.

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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.

	ANWORTH MORTGAGE ASSET CORPORATION
Date: December 16, 2004	By:	/s/ Lloyd McAdams
	Name:	Lloyd McAdams
	Title:	President and Chief Executive Officer

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EXHIBIT INDEX

Exhibit Number	Description
99.1	Press Release dated December 16, 2004 of the Registrant.

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EX-99.1

Exhibit 99.1

NEWS RELEASE

For release December 16, 2004

Contact: John T. Hillman @ 310/255-4438 or 310/255-4493

ANWORTH MORTGAGE ASSET CORPORATION ANNOUNCES FOURTH

QUARTER 2004 COMMON STOCK DIVIDEND OF $0.27 PER SHARE AND

PREFERRED STOCK DIVIDEND OF $0.335417 PER SHARE

SANTA MONICA, California — Dec. 16, 2004 — Anworth Mortgage Asset Corporation (NYSE: ANH) announced today that its Board of Directors declared a quarterly common stock dividend of $0.27 per share for the fourth quarter of 2004. The common stock dividend is payable on January 27, 2005 to common stockholders of record as of the close of business on December 31, 2004.

Also, in accordance with the terms of the Company’s 8.625% Series A Cumulative Preferred Stock, the Board of Directors declared the initial preferred stock dividend of $0.335417 per share for the fourth quarter of 2004. The preferred stock dividend is payable on January 18, 2005 to preferred stockholders of record as of the close of business on December 31, 2004. The dividend reflects the accrual from November 5, 2004 through December 31, 2004, or 56 days of a 360 day year.

Commenting on Anworth’s operations, Lloyd McAdams, Anworth’s Chairman of the Board, Chief Executive Officer and President, stated, “With this last 2004 common stock dividend declaration, the cumulative dividends for the year now equal $1.25 per share. Based on initial indications, we expect earnings per share for 2004 to be approximately equal to this amount.

“The expected increase in earnings from the September quarter to the December quarter appears to be largely the result of reduced premium amortization. Specifically, agency premium amortization expense for the December quarter appears to be approximately $0.04 per share less than that of the September quarter. We expect that the quarterly Premium Amortization Rate, the portion of previously unamortized premium expensed during the quarter, will be approximately 9%. This reduced amortization expense was, however, partially offset by the increase in interest rates during the December quarter, as our cost of short-term financing rose by more than the increase in the interest rates earned on our assets.”

About Anworth Mortgage Asset Corporation

Anworth is a mortgage real estate investment trust (REIT) which invests in mortgage assets, including mortgage pass-through certificates, collateralized mortgage obligations, mortgage loans and other real estate securities. Anworth generates income for distribution to shareholders primarily based on the difference between the yield on its mortgage assets and the cost of its borrowings. Through its wholly-owned subsidiary, Belvedere Trust Mortgage Corporation, Anworth also invests in high quality jumbo adjustable-rate mortgages and finances these loans though securitizations.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including increases in the prepayment rates on the mortgage loans securing our mortgage-backed securities, our ability to use borrowings to finance our assets, risks associated with investing in mortgage-related assets, including changes in business conditions and the general economy, our ability to maintain our qualification as a real estate investment trust for federal income tax purposes, and management’s ability to manage our growth. Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Forms 8-K, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

Contact:

Anworth Mortgage Asset Corporation

John T. Hillman

(310) 255-4438 or (310) 255-4493