Toronto Stock Exchange: MTG
TORONTO, April 18, 2012 /PRNewswire/ - Timbercreek Senior Mortgage Investment Corporation (the "Fund") is pleased to announce the implementation of a Dividend Reinvestment Plan (the "Plan"). The Plan provides eligible holders of class A shares of the Fund ("Class A Shares") a convenient means to purchase additional Class A Shares by reinvesting their cash dividends at a potential discount and without having to pay commissions, service charges or brokerage fees.
At the discretion of the board of directors of the Fund, shares for the reinvestment of distributions will be acquired in the open market at prevailing prices or issued from treasury at 95 percent of the average market price. Average market price is defined in the Plan to be the volume weighted average trading price of Class A Shares on the Toronto Stock Exchange for the 10 trading days ending on the third business day immediately prior to the dividend payment date on which at least a board lot of Class A Shares is traded. Class A Shares acquired under the Plan will be automatically enrolled in the Plan. Shareholders who hold their Class A Shares through a broker, financial institution or other nominee must enroll for distribution reinvestment through their nominee holder.
The full text of the Plan will be mailed to registered shareholders in the near future. These documents may also be obtained on the Timbercreek website at www.timbercreek.com.About the Fund The Fund provides investors with an opportunity to receive attractive yields by investing indirectly, through holding shares of the Fund, in mortgage loan investments, comprised of first mortgages, selected and determined to be high quality by its manager, Timbercreek Asset Management Ltd. The investment objective of the Fund is, with a primary focus on capital preservation, to acquire and maintain a diversified portfolio of mortgage loan investments that generates attractive, stable returns in order to permit the Fund to pay monthly distributions to its shareholders.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV