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TORONTO, Jan. 21, 2014 (GLOBE NEWSWIRE) -- Atrium Mortgage Investment Corporation (TSX:AI) announces that it is increasing its regular monthly cash dividends, from an annual rate of $0.80 to $0.82 per share.
The board of directors has declared the following dividends:
Dividend payable date
Dividend amount per share
January 31, 2014
February 13, 2014
February 28, 2014
March 13, 2014
March 31, 2014
April 14, 2014
Mr. Rob Goodall, CEO of Atrium, noted, "In 2013, Atrium earned and declared dividends totaling an estimated $0.85 per share, including a special dividend estimated at $0.05. We are very pleased to conservatively increase the regular dividend to reflect our confidence in Atrium's level of earnings. We still expect to continue the practice of paying a special dividend to shareholders of record at the year-end to top-up the total dividends paid to equal our earnings in the year."
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.
Atrium is a Mortgage Investment Corporation (MIC) as defined in Section 130.1(6) of the Canada
Income Tax Act (ITA). Accordingly, Atrium 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
As a mortgage investment corporation, 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.