Atrium Mortgage Investment Corp, a non-bank provider of residential and commercial mortgages in Canada, has announced the declaration of its October 2023 dividend. The board of directors declared a dividend of $0.075 per common share, which will be paid on November 10, 2023, to shareholders of record as of October 31, 2023.
Atrium is known for its monthly dividend payments, currently set at an annual rate of $0.90 per share. Additionally, the company offers a special dividend to shareholders of record at the end of each fiscal year if the dividends declared are lower than the taxable income. This provides an opportunity for shareholders to benefit from the compound growth of their investment.
Shareholders have the option to enroll in Atrium’s dividend reinvestment plan (DRIP), which allows them to automatically reinvest their dividends in new shares of the company. The DRIP offers a 2% discount from the market price and does not charge any commissions. This program enables shareholders to realize the advantages of compounding their investment in Atrium.
Atrium Mortgage Investment Corp operates as a Mortgage Investment Corporation (MIC) under the Canada Income Tax Act. As a result, the company is exempt from taxation on income as long as it pays its taxable income to shareholders within 90 days after the end of each year. Shareholders treat these dividends as interest income, resulting in a similar position as if they had made the mortgage investments directly.
Atrium focuses on lending in major urban centers in Canada where the stability and liquidity of real estate are high. The company’s primary objectives are to provide shareholders with stable and secure dividends and to preserve shareholders’ equity by lending within conservative risk parameters. Atrium’s mortgage investments are made with the goal of maintaining a balance between profitability and risk management.
For more information on Atrium Mortgage Investment Corp and its regulatory filings, interested parties can visit the regulatory filings available at www.sedarplus.ca or the company’s website at www.atriummic.com.
In conclusion, Atrium Mortgage Investment Corp has declared its October 2023 dividend, offering shareholders an opportunity to benefit from stable dividends and compound growth. The company’s focus on lending in high-stability real estate markets and conservative risk parameters ensures the preservation of shareholders’ equity. Through programs like the dividend reinvestment plan, Atrium aims to provide value and growth opportunities to its shareholders. For further details and regulatory information, interested individuals can visit the provided websites.