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Timbercreek Senior Mortgage Investment Corporation July 2013 Dividend

Toronto Stock Exchange: MTG

TORONTO, July 22, 2013 /CNW/ - Timbercreek Senior Mortgage Investment Corporation (the "Company") is pleased to announce that its board of directors (the "Board") has declared a monthly dividend of $0.050 per class A share ("Class A Shares"), $0.054 per class B share ("Class B Shares"), $0.054 per class I share ("Class I Shares"), and $0.052 per class J share ("Class J Shares") of the Company to be paid on August 15, 2013 to holders of Class A, Class B, Class I and Class J Shares of record on July 31, 2013.

As of July 22, 2013 there were 36,941,471 Class A Shares, 219,559 Class B Shares, 513,700 Class I Shares and 221,000 Class J Shares outstanding.

The Company also offers a Dividend Reinvestment Plan (the "Plan") to eligible holders of Class A Shares, that provides 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.

Pursuant to the Plan, and at the discretion of the Board, Class A 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 (the "Average Market Price") for the ten trading days period ending on the third business day immediately prior to the dividend payment date (the "Trading Period").  In accordance with the provisions of the Plan, in the event that the issue price from treasury would be less than the Net Redemption Value ("NRV") per Class A Share, Class A Shares shall be issued from treasury at a price equal to the NRV per Class A Share.

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