LOS ANGELES - Apex Mortgage Capital Inc. said it expects a loss on investment transactions in the second quarter of about $7.5 million and that its board of directors has declared a second-quarter dividend of 35 cents per share.

The company announced that it had sold $101.6 million of investment securities to reduce the risk in its portfolio. As a result of the securities sales and a writedown of an equity investment, Apex said, it will report the loss on investment transactions.

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