Atrium Mortgage Investment Corporation Announces December 2015 Dividends and 2016 Reporting Dates
TORONTO, Dec. 1, 2015 (GLOBE NEWSWIRE) -- Atrium Mortgage Investment Corporation (TSX:AI) is pleased to announce that its board of directors has declared a dividend for the month of December 2015 of $0.07 per common share, to be paid January 12, 2016 to shareholders of record December 31, 2015. For December, Atrium will pay this monthly dividend plus an additional special dividend payable on February 29, 2016 to shareholders of record at December 31, 2015, to top-up total dividends so that they equal earnings during 2015. The amount of the special dividend will be determined when Atrium announces its total 2015 earnings on February 9, 2016.
For the convenience of shareholders, following are the expected dates that financial results will be released by the company during 2016: Q4 (year-end) 2015 on February 9, 2016, Q1 2016 on April 20, 2016, Q2 on July 21, 2016, and Q3 on October 20, 2016. Results are released after market close, and a conference call for investors is normally scheduled for 4:00 p.m. (Eastern Time) the following day.
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.
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 the Canada Income Tax Act, so 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.