Toronto Stock Exchange: TMC
TORONTO, Feb. 17, 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 $0.067 per
class A share ("Class A Shares") and $0.071 per class B share ("Class B
Shares") of the Fund to be paid on March 15, 2012 to holders of Class A
Shares or Class B Shares of record on February 29, 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 Directors 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 February 17, 2012 there were 30,681,546 Class A Shares outstanding
and 3,724,347 Class B Shares outstanding.
The full text of the Plan can be obtained on the Timbercreek website at www.timbercreekfunds.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.