Atrium Mortgage Investment Corporation Announces June 2024 Dividend

Rhea-AI Summary

Atrium Mortgage Investment (TSX: AI) has declared a June 2024 dividend of $0.075 per common share, payable on July 12, 2024, to shareholders of record on June 28, 2024.

The company maintains a monthly dividend rate of $0.90 per share annually and may issue a special year-end dividend if declared dividends are less than the taxable income for the fiscal year.

Atrium offers a Dividend Reinvestment Plan (DRIP) allowing shareholders to reinvest dividends into new shares at a 2% discount from the market price without commissions, facilitating compound growth.

Positive

• Declared a monthly dividend of $0.075 per share for June 2024.
• Annual dividend rate of $0.90 per share.
• Potential for a special year-end dividend if taxable income exceeds declared dividends.
• DRIP allows shareholders to reinvest dividends at a 2% discount from market price.
• No commission fees for the DRIP, enabling cost-effective reinvestment.

Negative

• Dividend of $0.075 per share may not be appealing compared to higher-yielding investments.

Toronto, Ontario--(Newsfile Corp. - June 6, 2024) - Atrium Mortgage Investment Corporation (TSX: AI) is pleased to announce that its board of directors has declared a dividend for the month of June 2024 of $0.075 per common share, to be paid July 12, 2024 to shareholders of record June 28, 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/211925

FAQ

What is Atrium Mortgage Investment 's dividend for June 2024?

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

When will Atrium Mortgage Investment pay the June 2024 dividend?

The dividend will be paid on July 12, 2024.

Who is eligible to receive the June 2024 dividend from Atrium Mortgage Investment ?

Shareholders of record as of June 28, 2024, are eligible to receive the dividend.

What is the annual dividend rate for Atrium Mortgage Investment ?

Atrium pays an annual dividend rate of $0.90 per share.

What is the Dividend Reinvestment Plan (DRIP) offered by Atrium Mortgage Investment ?

Atrium's DRIP allows shareholders to reinvest dividends in new shares at a 2% discount from market price without commissions.

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

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