Toronto, Ontario–(Newsfile Corp. – April 29, 2020) – Atrium Mortgage Investment Corporation (TSX: AI) (Atrium) announced today that, in response to the market disruption caused by the COVID-19 pandemic, Atrium has determined to suspend, effective immediately, its dividend reinvestment plan (“DRIP”) until further notice. As a result, shareholders will only receive dividends in cash effective with the dividend currently scheduled to be paid on May 12, 2020, to shareholders of record on April 30, 2020. If Atrium elects to reinstate the DRIP in the future, shareholders that were enrolled in the DRIP at suspension and remained enrolled at reinstatement will automatically resume participation in the DRIP.
Atrium will be releasing its financial results for the three months ended March 31, 2020 at the end of the day on Wednesday, May 6, 2020, as previously announced.
Interested parties are invited to participate in a conference call with management on Thursday, May 7, 2020 at 4:00 p.m. ET to discuss the results.
To participate or listen to the conference call live, please call 1 (888) 241-0551 or (647) 427-3415, conference ID 7489378.
For a replay of the conference call (available until May 20, 2020) please call 1 (855) 859-2056, Conference ID 7489378.
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.sedar.com or Atrium’s website at www.atriummic.com.
For additional information, please contact
Chief Financial Officer