VANCOUVER, Sept. 19, 2013 /CNW/ - Trez Capital Mortgage Investment
Corporation (the "Company") announced today that its board of directors
has declared a monthly distribution of $0.0583 per Class A share of the
Company. The distribution will be paid on October 15, 2013 to holders
of Class A shares of record on September 30, 2013. As of September 19,
2013, there were 23,001,475 Class A shares outstanding. The amount of
the monthly distributions is equivalent to approximately $0.70 per
Class A Share per annum. This represents an annual cash distribution of
7.0% based on the $10 issue price of the Class A Shares.
"As previously announced (Press Release dated September 10, 2013), the
Company is continuing to distribute at $0.70 per annum, which at the
closing market price on September 18, 2013 of $8.98 per Class A share,
results in an effective yield of 7.8% on a portfolio of quality
high-yielding mortgages" said Michael Nisker, President and CEO of Trez
Capital Mortgage Investment Corporation.
The Company also offers a Dividend Reinvestment Plan (the "Plan") to
eligible holders of Class A Shares, that provides eligible holders of
Class A shares of the Corporation with a convenient means to purchase
additional Class A Shares by reinvesting their cash distributions at a
potential discount to net asset value or the current market price.
Shares for the reinvestment of distributions will be acquired in the
open market at prevailing market rates or, if lower than the current
market price, issued from treasury at the greater of net asset value
per share and 95 percent of the average market price. "Average market
price" is defined in the Plan to be the volume weighted average trading
price of Class A Shares on the Toronto Stock Exchange during the 10
trading days ending on the third business day immediately prior to the
distribution payment date on which at least a board lot of Class A
Shares is traded. Class A Shares acquired under the Plan will be
automatically enrolled in the Plan. Beneficial shareholders who hold
their Class A Shares through a broker, financial institution or other
nominee must enroll for distribution reinvestment through their nominee
holder.
About the Company
The Company's objective is to acquire and maintain a diversified
portfolio of mortgages in Canada that preserves capital and generates
attractive returns in order to pay monthly distributions to its
shareholders. The Company accomplishes its investment objectives
through prudent investments in mortgages to qualified real estate
investors and developers, focusing primarily on short-term bridge
financing needs not currently serviced by traditional real estate
lenders. Trez Capital Fund Management Limited Partnership is the
manager of and portfolio advisor to the Company.
SOURCE Trez Capital Mortgage Investment Corporation
Mr. Michael J.R. Nisker
President & Chief Executive Officer
Trez Capital Mortgage Investment Corporation
Tel: (416) 350-1299
E-mail: MichaelN@trezcapital.com
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