Atrium Mortgage Investment Corporation Announces July 2024 Dividend

Rhea-AI Summary

Atrium Mortgage Investment (TSX: AI) has announced a monthly dividend of $0.075 per common share for July 2024. The dividend will be paid on August 13, 2024, to shareholders recorded by July 31, 2024. Atrium's annual dividend rate stands at $0.90 per share, with an additional special dividend possible if declared dividends fall short of taxable income for the year. The company also offers a dividend reinvestment plan (DRIP), allowing shareholders to reinvest dividends at a 2% discount without commissions, promoting compound growth.

Positive

• Atrium Mortgage Investment declared a monthly dividend of $0.075 per share for July 2024.
• Payment date set for August 13, 2024.
• Annual dividend rate of $0.90 per share.
• Potential for a special dividend if taxable income exceeds declared dividends.
• Dividend reinvestment plan (DRIP) offers a 2% discount and no commission costs, encouraging compound growth.

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• None.

Toronto, Ontario--(Newsfile Corp. - July 4, 2024) - Atrium Mortgage Investment Corporation (TSX: AI) is pleased to announce that its board of directors has declared a dividend for the month of July 2024 of $0.075 per common share, to be paid August 13, 2024 to shareholders of record July 31, 2024.

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 in the event the dividends declared are less than taxable income for that fiscal 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.

About Atrium

Canada's Premier Non-Bank Lender™

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. For further information, please refer to regulatory filings available at www.sedarplus.ca or Atrium's website at www.atriummic.com.

For further information, please contact

Robert G. Goodall 
Chief Executive Officer

John Ahmad
Chief Financial Officer

(416) 867-1053
info@atriummic.com
www.atriummic.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/215478

FAQ

What is the dividend declared by Atrium Mortgage Investment for July 2024?

Atrium Mortgage Investment declared a dividend of $0.075 per common share for July 2024.

When will Atrium Mortgage Investment pay the July 2024 dividend?

The dividend will be paid on August 13, 2024.

What is the record date for Atrium Mortgage Investment's July 2024 dividend?

The record date for the July 2024 dividend is July 31, 2024.

What is Atrium Mortgage Investment's annual dividend rate?

Atrium Mortgage Investment's annual dividend rate is $0.90 per share.

Does Atrium Mortgage Investment offer a dividend reinvestment plan?

Yes, Atrium offers a dividend reinvestment plan (DRIP) with a 2% discount and no commissions.

How can shareholders enroll in Atrium Mortgage Investment's DRIP?

Shareholders can enroll in the DRIP by contacting their investment advisor.

Is there a special dividend for Atrium Mortgage Investment shareholders?

A special dividend may be issued at year-end if declared dividends are less than taxable income.