Toronto Stock Exchange: MTG
TORONTO, Sept. 19, 2012 /CNW/ - Timbercreek Senior Mortgage Investment
Corporation (the "Fund") is pleased to announce that its board of
directors has declared a monthly dividend of $0.050 per class A share
("Class A Shares"), $0.054 per class I share ("Class I Shares"), and
$0.052 per class J share ("Class J Shares") of the Fund to be paid on
October 15, 2012 to holders of Class A, Class I and Class J Shares of
record on September 28, 2012.
The Fund 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 Fund, 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 Fund 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 September 19, 2012 there were 30,830,774 Class A Shares, 344,700
Class I Shares and 478,100 Class J Shares outstanding.
About the Fund
The Fund provides investors with an opportunity to receive attractive
yields by investing indirectly, through holding shares of the Fund, in
mortgage loan investments, comprised of first mortgages, selected and
determined to be high quality by its manager, Timbercreek Asset
Management Ltd. The investment objective of the Fund 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 Fund to pay monthly
distributions to its shareholders.
SOURCE: Timbercreek Senior Mortgage Investment Corporation
For further information:
Timbercreek Asset Management Ltd.