MINNETONKA, Minn., April 16 /PRNewswire-FirstCall/ -- AMERICAN
CHURCH MORTGAGE COMPANY (Pink Sheets: ACMC), Minnetonka, Minnesota, announced the
declaration by its Board of Directors of a shareholder dividend for
its first quarter ended March 31,
2010 of $.10 per share.
The dividend is to be paid on April 30,
2010 to shareholders of record as of April 27, 2010. Total revenues for the first
quarter of 2010 were $904,554, versus
$907,431 for the first quarter of
2009. Earnings before items were $.14
per share versus $.08 per share for
the first quarter ended March 31,
2010 and 2009, respectively. GAAP earnings were $.10 per share versus $.06 per share for the first quarter ended
March 31, 2010 and 2009,
respectively. The Company operates as a real estate investment
trust and revenues of the Company are derived primarily from
interest income earned from loans to churches and other non-profit
religious organizations.
On April 1, 2009, American Church
Mortgage Company registered its new public offering of $20,000,000 of Series "C" Secured Investor
Certificates with the SEC. The offering is being conducted by
American Investors Group, Inc., Minnetonka, Minnesota on a best efforts
basis.
For more complete information about ACMC's public offering,
including charges and expenses, a Prospectus may be obtained from
American Investors Group, Inc., 10237 Yellow Circle Drive,
Minnetonka, Minnesota 55343 or by
calling (800) 815-1175 extension 134. Investors are encouraged to
carefully read the Prospectus before investing and forwarding
funds.
Information concerning ACMC is available on its website,
www.church-loans.net or by calling (800) 815-1175 extension
127.
SOURCE American Church Mortgage Company