MortgageIT Holdings, Inc. Declares Third Quarter 2006 Common Stock Dividend of $0.30 Per Share
14 September 2006 - 4:00PM
PR Newswire (US)
NEW YORK, Sept. 14 /PRNewswire-FirstCall/ -- MortgageIT Holdings,
Inc. (NYSE:MHL), a residential mortgage real estate investment
trust (REIT), today announced that its Board of Directors declared
a cash dividend of $0.30 per common share for the third quarter of
2006. The dividend is payable on October 13, 2006, to stockholders
of record as of September 29, 2006. The ex-dividend date is
September 27, 2006; therefore, new stockholders interested in
receiving the third quarter dividend must purchase the Company's
common stock on or before September 26, 2006. The Company expects
that the dividend payments for the period from January 1, 2006
through September 30, 2006 will be comprised of taxable income and
will not include a return of capital. Pending Acquisition by
Deutsche Bank and Fourth Quarter Dividend Guidance On July 12,
2006, the Company announced that it will be acquired by Deutsche
Bank in an all cash transaction and that the acquisition was
expected to close in the fourth quarter of 2006, subject to various
closing conditions. Based upon the expected closing of the
acquisition and acquisition-related expenses to be incurred, the
Company subsequently announced that the Company expected to pay
little or no dividend for the fourth quarter of 2006. The
acquisition is now expected to close during the first quarter of
2007, primarily due to the anticipated timing of Deutsche Bank's
receipt of all required regulatory approvals. Regulatory filings
have been made and integration plans are under way. Notwithstanding
the change in timing of the expected closing, the Company continues
to expect to pay little or no dividend for the fourth quarter of
2006. About MortgageIT Holdings, Inc. MortgageIT Holdings, Inc.
(NYSE:MHL) is a self-administered mortgage real estate investment
trust ("REIT") focused on the residential lending market. The
Company self-originates its investment portfolio of high quality
adjustable rate mortgage ("ARM") loans through MortgageIT, Inc.,
its wholly owned residential mortgage banking subsidiary.
MortgageIT, Inc. is a full- service residential mortgage banking
company that is licensed to originate loans throughout the United
States. MortgageIT Holdings is organized and conducts its
operations to qualify as a REIT for federal income tax purposes.
MortgageIT is organized and operates as MortgageIT Holdings'
taxable REIT subsidiary. For more information, please visit
http://www.mortgageitholdings.com/. Certain items in this press
release may constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements that relate to future,
not past, events. In this context, forward-looking statements often
address the Company's expected future business and financial
performance, and often contain words such as "expects,"
"anticipates," "intends," "plans," "believes," "will" or other
similar words or expressions. Forward-looking statements, by their
nature, address matters that are, to different degrees, uncertain
and include, among other things, statements relating to the
Company's ability to fund a fully-leveraged, self-originated loan
portfolio, its anticipated loan funding volume and the Company's
ability to pay dividends. These statements are based on the current
economic environment and management's current expectations and
beliefs, and are subject to a number of trends and uncertainties
that could cause actual results to differ materially from those
described in the forward-looking statements. Forward-looking
statements are inherently subject to significant economic,
competitive, and other contingencies that are beyond the control of
management. The Company can give no assurance that its expectations
will be attained. Factors that could cause actual results to differ
materially from the Company's expectations include, but are not
limited to, the Company's mortgage banking subsidiary's continued
ability to originate new loans, including loans that the Company
deems suitable for its securitization portfolio; changes in the
capital markets, including changes in interest rates and/or credit
spreads; and other risks detailed in the Company's Annual Report on
Form 10-K that was filed with the Securities and Exchange
Commission ("SEC") on March 15, 2006 and from time to time in the
Company's other SEC filings. Such forward-looking statements speak
only as of the date of this press release. The Company expressly
disclaims any obligation to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Company's expectations with regard
thereto or change in events, conditions or circumstances on which
any statement is based. DATASOURCE: MortgageIT Holdings, Inc.
CONTACT: Investors - Sean McGrath of MortgageIT Holdings, Inc.,
+1-212-651-4637, or Media - Joe LoBello of Brainerd Communicators,
Inc., +1-212-986-6667 Web site: http://www.mortgageitholdings.com/
Copyright
Mortgagit (NYSE:MHL)
Historical Stock Chart
Von Apr 2024 bis Mai 2024
Mortgagit (NYSE:MHL)
Historical Stock Chart
Von Mai 2023 bis Mai 2024