TORONTO, Aug. 31, 2012 (GLOBE NEWSWIRE) -- Atrium Mortgage Investment Corporation (TSX:AI) ("Atrium") is pleased to announce that it received a receipt for its non-offering (final) prospectus on August 29, 2012 and Atrium's common shares ("Common Shares") will commence trading on the Toronto Stock Exchange, at the market open, on September 4, 2012 under the symbol "AI". The non-offering (final) prospectus of Atrium can be obtained at www.sedar.com .
As a mortgage investment corporation, Atrium is a non-bank provider of residential and commercial real estate finance. Atrium was created in 2001 to fill the mortgage lending gap caused by the limited number of financial institutions operating in Canada. Atrium lends in major urban centres in Canada where the stability and liquidity of real estate are at the highest levels. Canadian Mortgage Capital Corporation ("CMCC") is responsible for originating, underwriting, servicing and syndicating Atrium's mortgage loans. CMCC has been Atrium's exclusive manager since Atrium's formation and has grown Atrium's business to a mortgage portfolio aggregating $165.7 million at June 30, 2012. CMCC has been in the business of originating and underwriting mortgage loans for over 19 years and servicing mortgage loans for over 13 years.
The board of directors of Atrium has adopted a new dividend policy, effective August 29, 2012, pursuant to which Atrium intends to make monthly cash distributions by way of dividends to holders of Common Shares of record on the close of business on the last business day of each month. The dividend policy provides for a monthly dividend initially set at $0.06667 per Common Share per month ($0.80 per annum) to be paid within 30 days after the dividend record date. In addition, the dividend policy provides that there may be an additional (thirteenth) special dividend to holders of Common Shares of record on December 31 of each year payable within 90 days of the dividend record date. For each year ending December 31, Atrium intends to pay a special dividend equal to Atrium's taxable income for that fiscal year and capital gains dividends equal to twice Atrium's taxable capital gains for that fiscal year, less dividends previously declared for that fiscal year. The terms of the new dividend policy, including determining a record date and the amount of any dividend, are subject to change at the discretion of Atrium's board of directors.
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