TORONTO, Dec. 01, 2016 (GLOBE NEWSWIRE) -- Atrium Mortgage Investment Corporation (TSX:AI) is pleased to announce that its board of directors has declared a regular dividend for the month of December 2016 of $0.071667 per common share, to be paid January 12, 2017 to shareholders of record December 30, 2016. In addition, Atrium will pay a special dividend on February 28, 2017 to shareholders of record December 30, 2016, to top-up total dividends so that 2016 earnings are distributed to shareholders. The amount of the special dividend will be determined when Atrium announces its total 2016 earnings on February 8, 2017.
For the convenience of shareholders, following are the expected dates that financial results will be released by the company during 2017: Q4 (year-end) 2016 on February 8, 2017, Q1 2017 on April 26, 2017, Q2 on July 20, 2017, and Q3 on October 26, 2017. Results are released at 5:00 p.m. Eastern time, and a conference call for investors is normally scheduled for the following day.
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.
For further information, please contact
Robert G. Goodall
President and Chief Executive Officer
Jeffrey D. Sherman
Chief Financial Officer
Source: Atrium Mortgage Investment Corporation