Stock Name: TMC
Amount: CAD 0.068
Announcement Date: 09/09/2011
Record Date: 13/09/2011
Dividend Detail:
Toronto Stock Exchange: TMC
TORONTO, Sept. 9, 2011 /CNW/ - Timbercreek Mortgage Investment
Corporation (the "Fund") is pleased to announce that its board of
directors (the "Board") has declared a monthly dividend of $0.068 per
class A share ("Class A Shares") and $0.072 per class B share ("Class B
Shares") of the Fund to be paid on October 14, 2011 to holders of Class
A Shares or Class B Shares of record on September 15, 2011.
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 Directors of the Fund (the "Board"),
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 September 9, 2011 there were 19,847,200 Class A Shares outstanding
and 4,424,347 Class B Shares outstanding.
The full text of the Plan can be obtained on the Timbercreek website at www.timbercreekfunds.com.
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 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.
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