MortgageIT Holdings, Inc. Declares Second Quarter 2005 Common Stock Dividend of $0.48 Per Share
June 16 2005 - 1:51PM
PR Newswire (US)
MortgageIT Holdings, Inc. Declares Second Quarter 2005 Common Stock
Dividend of $0.48 Per Share NEW YORK, June 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 second
quarter of 2005. The dividend is payable on July 15, 2005, to
shareholders of record as of June 30, 2005. The ex-dividend date is
June 28, 2005; therefore, new shareholders interested in receiving
the second quarter dividend must purchase common stock on or before
June 27, 2005. The dividend represents the distribution of more
than 90% of the estimated taxable earnings for the period from
April 1, 2005 through June 30, 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.
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 lending subsidiary.
MortgageIT, Inc. is a full- service residential mortgage lending
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,
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' Annual Report on Form 10-K that was filed with Securities
and Exchange Commission (SEC) on March 31, 2005 and from time to
time in MortgageIT Holdings' other 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 of
MortgageIT Holdings, Inc., +1-646-346-8700; or Media - Ted J.
Stacer of MortgageIT Holdings, Inc., +1-212-651-7653, or Joe
LoBello of Brainerd Communicators, Inc., +1-212-986-6667, for
MortgageIT Holdings, Inc. Web site:
http://www.mortgageitholdings.com/
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