DALLAS — Capstead Mortgage Corp. announced Monday that it expects to repurchase about 554,000 of its common shares through a tender offer made last month, just 11% of the upper limit it had set.

The tender offer, based on a fixed price of $12.75 a share, started Feb. 16 and ended at midnight Friday. When it was announced, Capstead said it would buy up to five million shares, or about 20% of its issued and outstanding common stock.

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