Timbercreek Senior Mortgage Investment Corporation May 2012 Dividend
TORONTO, May 22, 2012
Toronto Stock Exchange: MTG
TORONTO, May 22, 2012 /CNW/ - Timbercreek Senior Mortgage Investment
Corporation (the "Fund") is pleased to announce that its board of
directors has declared a monthly dividend of $0.05 per class A share of
the Fund ("Class A Shares") to be paid on June 15, 2012 to holders of
Class A Shares of record on May 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 May 22, 2012 there were 15,415,297 Class A Shares outstanding.
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, comprised of first mortgages, 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.