TORONTO – Atrium Mortgage Investment Corporation (TSX: AI) is pleased to announce that its board of directors has declared a dividend for the month of October 2018 of $0.075 per common share, to be paid November 12, 2018 to shareholders of record October 31, 2018.
Atrium pays monthly dividends currently at an annual rate of $0.90 per share, plus a special dividend to shareholders of record at year-end to top-up the total dividends so that they equal its earnings in the year.
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.
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.