Atrium Mortgage Investment Corporation Declares Monthly Dividends
April 08 2014 - 6:57AM
Atrium Mortgage Investment Corporation (TSX:AI) announces that its
board of directors has declared regular monthly dividends for
April, May and June 2014. The monthly dividends continue at an
annual rate of $0.82, as shown below.
Record date |
Period |
Dividend payable date |
Dividend amount per share |
April 30, 2014 |
April |
May 13, 2014 |
$0.068333 |
May 30, 2014 |
May |
June 13, 2014 |
$0.068333 |
June 30, 2014 |
June |
July 14, 2014 |
$0.068333 |
Mr. Rob Goodall, CEO of Atrium noted, "Our regular dividend
represents an annual distribution of 8.2% of book value. In
addition, we expect to continue to pay a special dividend to
shareholders of record at year-end to top-up the total dividends so
that they equal our earnings in the year."
Shareholders are reminded that Atrium offers a dividend
reinvestment plan (DRIP) that allows them to automatically reinvest
their dividends in new shares of Atrium at a 2% discount from
market price and with no commissions. This provides shareholders
with an easy way to realize the benefits of compound growth of
their investment in Atrium. Shareholders can enroll in the DRIP
program by contacting their investment advisor.
About Atrium
Canada's Premier Non-Bank Lender™
Atrium is a non-bank provider of residential and commercial
mortgages that lends in major urban centres in Canada where the
stability and liquidity of real estate are high. Atrium's
objectives are to provide its shareholders with stable and secure
dividends and preserve shareholders' equity by lending within
conservative risk parameters.
Atrium is a Mortgage Investment Corporation (MIC) as defined in
Section 130.1(6) of the Canada Income Tax Act (ITA). Accordingly,
Atrium is not taxed on income provided that its taxable income is
paid to its shareholders in the form of dividends within 90 days
after December 31 each year. Such dividends are generally treated
by shareholders as interest income, so that each shareholder is in
the same position as if the mortgage investments made by the
company had been made directly by the shareholder. For further
information, please refer to regulatory filings available at
www.sedar.com or Atrium's website at www.atriummic.com.
Forward-Looking Statements
This news release contains forward-looking statements. This
information can be identified by words such as "will", "expect to
continue", "expect to" or similar expressions suggesting future
outcomes or events. Atrium believes the expectations reflected in
such forward-looking statements are reasonable but no assurance can
be given that these expectations will prove to be correct and such
forward-looking statements should not be unduly relied upon.
Forward looking statements regarding the payment of a special
dividend are based upon the following assumptions: that revenues
and expenses continue to follow current trends, and that current
trends in portfolio growth continue.
Forward-looking statements are based on current information and
expectations that involve a number of risks and uncertainties,
which could cause actual results or events to differ materially
from those anticipated. These risks include, but are not limited
to, the uncertainty associated with accessing capital markets and
the risks related to Atrium's business, including those identified
in Atrium's annual information form dated December 31, 2013 under
the heading "Risk Factors" (copies of which may be obtained at
www.sedar.com). Forward looking statements contained in this news
release are made as of the date hereof and are subject to change.
All forward-looking statements in this news release are qualified
by these cautionary statements. Except as required by law, Atrium
undertakes no obligation to update any forward-looking statement,
whether as a result of new information, future events or
otherwise.
CONTACT: For further information, please contact
Robert G. Goodall
President and Chief Executive Officer
Jeffrey D. Sherman
Chief Financial Officer
(416) 607-4200
ir@atriummic.com
www.atriummic.com
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