Toronto Stock Exchange: MTG
TORONTO, Oct. 21, 2014 /CNW/ - Timbercreek Senior Mortgage Investment Corporation (the "Company") is pleased to announce that its board of directors (the "Board") has declared a monthly dividend of $0.050 per common share ("Common Shares"), of the Company. The dividend will be paid on November 14, 2014 to holders of Common Shares of record on October 31, 2014.
The Company offers a Dividend Reinvestment Plan (the "Plan"), which is eligible to holders of Common Shares, and provides a convenient means to purchase additional Common Shares by reinvesting cash dividends at a potential discount, without having to pay commissions, service charges or brokerage fees.
Pursuant to the Plan, and at the discretion of the Manager, Common Shares will be acquired in the open market at prevailing prices or issued from treasury at 95 percent of the average market price (the "Average Market Price") for the five trading day period ending on the third business day immediately prior to the dividend payment date (the "Trading Period").
Common Shares acquired under the Plan will be automatically enrolled in the Plan. Shareholders who hold their Common Shares through a broker, financial institution or other nominee must enroll for distribution reinvestment through their nominee holder.
The full text of the Plan can be obtained on SEDAR or on the Timbercreek website at http://www.timbercreekseniormic.com/investor-information/dividend-reinvestment-plan.
About the Company
The Company provides investors with an opportunity to invest in a diversified portfolio of first-only mortgage investments originated and underwritten by its manager, Timbercreek Asset Management Inc. (the "Manager"). The Company focuses on capital preservation and the generation of attractive, stable returns, allowing for the payment of monthly dividends to shareholders.
SOURCE: Timbercreek Senior Mortgage Investment Corporation
For further information:
Timbercreek Asset Management Inc.