TORONTO, Jan. 04, 2017 (GLOBE NEWSWIRE) -- Atrium Mortgage Investment Corporation (TSX:AI) is pleased to announce an increase in its regular monthly dividend policy in 2017 to an annual rate of $0.88 per share, payable at a monthly rate of 7.3333 cents per share. This represents an increase from the 2016 annual rate of $0.86 per share.
Each dividend is payable after it is declared by Atrium’s board of directors. Atrium’s board of directors has declared a dividend for the month of January 2017 of $0.073333 per common share, to be paid February 13, 2017 to shareholders of record January 31, 2017.
“We have increased our regular monthly dividend every year since listing our shares on the TSX in the fall of 2012,” said Mr. Robert Goodall, CEO of Atrium. The dividend increases have been warranted based on the increase in earnings over that same period. He continued, “Atrium will also pay a special dividend to shareholders of record on December 31, 2016 to pay out the surplus between what we earned during 2016 and dividends previously distributed. For the nine months ended September 30, 2016, we have earned $0.71 per share, and paid $0.645 in regular monthly dividends to our shareholders. The amount of the special dividend (covering all of 2016) will be announced when we release our results for the year ended December 31, 2016 on February 8, 2017.”
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.
Canada’s Premier Non-Bank Lender™
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.
Atrium is a Mortgage Investment Corporation (MIC) as defined in the Canada Income Tax Act, so 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 www.atriummic.com.
Source:Atrium Mortgage Investment Corporation