Trez Capital Mortgage Investment Corporation announces September 2012 distribution
VANCOUVER, Sept. 20, 2012 /CNW/ - Trez Capital Mortgage Investment Corporation (the "Company") announced today that its board of directors has declared its second monthly distribution of $0.0583 per Class A share of the Company. The distribution will be paid on October 15, 2012 to holders of Class A shares of record on September 28, 2012. As of September 20, 2012, there were 23,000,000 Class A shares outstanding.
About the Company
The objectives of the Company are to acquire and maintain a diversified portfolio of mortgages on real property in Canada that preserves capital and generates attractive returns in order to permit the Company to pay monthly distributions to its shareholders. The initial amount of the monthly distributions is approximately $0.0583 per Class A Share ($0.70 per annum) representing an annual cash distribution of 7.0% based on the $10 issue price of the Class A Shares. The Company seeks to accomplish its investment objectives through prudent investments in mortgages on real property in Canada to qualified real estate investors and developers, focusing primarily on short-term bridge financing needs not currently serviced by traditional real estate lenders. Trez Capital Fund Management Limited Partnership is the manager of and portfolio advisor to the Company.
SOURCE Trez Capital Mortgage Investment Corporation