Ellington Financial Declares Inaugural Monthly Dividend of $0.14 Per Share

Ellington Financial Inc. (NYSE: EFC) ("Ellington Financial" or the
"Company") today announced that its Board of Directors has declared an
inaugural monthly dividend of $0.14 per share, payable on April 25, 2019
to shareholders of record as of March 29, 2019. This $0.14 monthly
dividend represents an annualized dividend of $1.68 per share, which is
a 2.4% increase over the previous annualized dividend of $1.64.
Beginning with this dividend, the Company expects to pay common stock
dividends on a monthly basis, rather than quarterly as it had previously
paid dividends.

“With the completion of our conversion to a REIT, we have decided to
shift to a monthly dividend. We believe that the increased frequency of
distributions will benefit our investors as well as attract new
investors,” said Laurence Penn, Chief Executive Officer and President.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements involve
numerous risks and uncertainties. The Company's actual results may
differ from its beliefs, expectations, estimates, and projections and,
consequently, you should not rely on these forward-looking statements as
predictions of future events. Forward-looking statements are not
historical in nature and can be identified by words such as "believe,"
"expect," "anticipate," "estimate," "project," "plan," "continue,"
"intend," "should," "would," "could," "goal," "objective," "will,"
"may," "seek" or similar expressions or their negative forms, or by
references to strategy, plans, or intentions. Examples of
forward-looking statements in this press release include statements
regarding the Company's intended dividend payment schedule. The
Company's results can fluctuate from month to month and from quarter to
quarter depending on a variety of factors, some of which are beyond the
Company's control and/or are difficult to predict, including, without
limitation, changes in interest rates and the market value of the
Company's securities, changes in mortgage default rates and prepayment
rates, the Company's ability to borrow to finance its assets, changes in
government regulations affecting the Company's business, the Company's
ability to maintain its exclusion from registration under the Investment
Company Act of 1940, the Company’s ability to qualify and maintain its
qualification as a real estate investment trust, or "REIT," and other
changes in market conditions and economic trends. Furthermore,
forward-looking statements are subject to risks and uncertainties,
including, among other things, those described under Item 1A of the
Company's Annual Report on Form 10-K filed on March 15, 2018, which can
be accessed through the Company's website at www.ellingtonfinancial.com
or at the SEC's website (www.sec.gov).
Other risks, uncertainties, and factors that could cause actual results
to differ materially from those projected may be described from time to
time in reports the Company files with the SEC, including reports on
Forms 10-Q, 10-K and 8-K. The Company undertakes no obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events, or otherwise.

About Ellington Financial

Ellington Financial invests in a diverse array of financial assets,
including residential and commercial mortgage-backed securities,
residential and commercial mortgage loans, consumer loans and
asset-backed securities backed by consumer loans, collateralized loan
obligations, non-mortgage and mortgage-related derivatives, equity
investments in loan origination companies, and other strategic
investments. Ellington Financial is externally managed and advised by
Ellington Financial Management LLC, an affiliate of Ellington Management
Group, L.L.C.

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