Toronto Stock Exchange: TMC
TORONTO, July 20, 2012 /CNW/ - Timbercreek Mortgage Investment
Corporation (the "Fund") 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 Fund to be paid on August 15, 2012 to holders of Class
A Shares or Class B Shares of record on July 31, 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 July 20, 2012 there were 32,545,191 Class A Shares outstanding and
5,507,320 Class B Shares outstanding.
The full text of the Plan can be obtained on the Timbercreek website at www.timbercreek.com.
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 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 Mortgage Investment Corporation
For further information:
Timbercreek Asset Management Ltd.