MortgageIT Holdings, Inc. Declares First Regular Quarterly Common Stock Dividend of $0.48 Per Share
March 16 2005 - 8:30AM
PR Newswire (US)
MortgageIT Holdings, Inc. Declares First Regular Quarterly Common
Stock Dividend of $0.48 Per Share NEW YORK, March 16
/PRNewswire-FirstCall/ -- MortgageIT Holdings, Inc. (NYSE:MHL), a
residential mortgage company organized as a real estate investment
trust (REIT), today announced that its Board of Directors has
declared a cash dividend of $0.48 per common share for the first
quarter of 2005. The dividend is payable on April 15, 2005, to
shareholders of record as of March 31, 2005. The ex-dividend date
is March 29, 2005; therefore, new shareholders interested in
receiving the first quarter dividend must purchase common stock on
or before March 28, 2004. The dividend represents the distribution
of more than 90% of the estimated taxable earnings for the period
from January 1, 2005 through March 31, 2005, exclusive of any net
income earned by its taxable REIT subsidiary, MortgageIT, Inc.,
during the period, and therefore is not expected to be a return of
capital. Doug Naidus, MortgageIT Holdings' Chairman and CEO said,
"Establishing our full quarterly dividend of $0.48 per share is an
important achievement for our company, reflecting the performance
of our $3 billion fully self-originated residential loan
portfolio." About MortgageIT Holdings, Inc. MortgageIT Holdings,
Inc. (NYSE:MHL) was formed to act as the holding company of
MortgageIT, Inc. (MortgageIT), its wholly owned residential
mortgage lending subsidiary. MortgageIT is a full-service
residential mortgage banking company that is licensed to originate
loans throughout the United States. MortgageIT originates
single-family residential mortgage loans of all types, with
particular focus on prime adjustable-rate (ARM) and fixed- rate,
first-lien residential mortgage loans. MortgageIT Holdings is
organized and conducts its operations to qualify as a real estate
investment trust (REIT) for federal income tax purposes. MortgageIT
is organized and operates as MortgageIT Holdings' taxable REIT
subsidiary. Certain items in this press release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
relating to our ability to fund a fully- leveraged, self-originated
loan portfolio, our anticipated loan funding volume and our ability
to pay dividends. These statements are based on 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.
MortgageIT Holdings can give no assurance that its expectations
will be attained. Factors that could cause actual results to differ
materially from MortgageIT Holdings' expectations include, but are
not limited to, MortgageIT's continued ability to originate new
loans, including loans that we deem suitable for our securitization
portfolio; changes in the capital markets, including changes in
interest rates and/or credit spreads; and other risks detailed in
MortgageIT Holdings' Registration Statement on Form S-11 that was
declared effective by the Securities and Exchange Commission (SEC)
on July 29, 2004 and from time to time in MortgageIT Holdings' SEC
Reports. Such forward-looking statements speak only as of the date
of this press release. MortgageIT Holdings 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, +1-646-346-8700, or Media - Ted Swiecichowski,
+1-212-651-7653, both of MortgageIT Holdings, Inc.; or Joe LoBello
of Brainerd Communicators, Inc., +1-212-986-6667, for MortgageIT
Holdings, Inc. Web site: http://www.mortgageitholdings.com/
Copyright
Mortgagit (NYSE:MHL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Mortgagit (NYSE:MHL)
Historical Stock Chart
From Jul 2023 to Jul 2024