Toronto Stock Exchange: TMC
TORONTO, May 22, 2013 /CNW/ - Timbercreek Mortgage Investment Corporation (the "Company") is pleased to announce that its board of directors (the "Board") has declared a monthly dividend of $0.063 per class A share ("Class A Shares") and $0.067 per class B share ("Class B Shares") of the Company to be paid on June 14, 2013 to holders of Class A Shares or Class B Shares of record on May 31, 2013.
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.
At the discretion of the Board of the Company, 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. At this time, the Board confirms that the Company will continue to issue shares from treasury until such time as the Board elects otherwise. 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.
As of May 22, 2013 there were 34,807,867 Class A Shares outstanding and 3,657,597 Class B Shares outstanding.
The full text of the Plan can be obtained on the Timbercreek website at www.timbercreek.com.
About the Company
The Company provides investors with an opportunity to receive attractive yields by investing indirectly, through holding shares of the Company, in mortgage loan investments selected and determined to be high quality by its manager, Timbercreek Asset Management Ltd. The investment objective of the Company 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 Company to pay monthly distributions to its shareholders.
SOURCE Timbercreek Mortgage Investment Corporation