American Church Mortgage Company Declares First Quarter Dividend
April 21 2005 - 4:26PM
PR Newswire (US)
American Church Mortgage Company Declares First Quarter Dividend
MINNETONKA, Minn., April 21 /PRNewswire/ -- AMERICAN CHURCH
MORTGAGE COMPANY ("ACMC") (OTC:ACMC), Minnetonka, Minnesota,
announced today the declaration by its Board of Directors of a
shareholder dividend for its first quarter ending March 31, 2005 of
$.1750 per share, representing an annualized dividend yield of
7.00%. The dividend will be paid on April 30, 2005 to shareholders
of record as of March 31, 2005. Total revenues for the first
quarter were $897,125, up from $742,741 for the first quarter of
2004. G.A.A.P. earnings for the first quarter of 2005 were $422,377
($.1655 per share) versus $369,828 ($.13 per share) for the first
quarter of 2004. The Company operates as a real estate investment
trust and revenues of the Company are derived primarily from
interest income earned from loans to churches and other non-profit
religious organizations. On October 7, 2004, American Church
Mortgage Company commenced a public offering of $23,000,000 of
Series "B" Investor Saver Certificates. The offering is being
conducted by American Investors Group, Inc., Minnetonka, Minnesota
on a best efforts basis. For more complete information about ACMC's
public offering, including charges and expenses, a Prospectus may
be obtained from American Investors Group, Inc., 10237 Yellow
Circle Drive, Minnetonka, Minnesota 55343 or by calling (800)
815-1175 extension 134. Investors are encouraged to carefully read
the Prospectus before investing and forwarding funds. Information
concerning ACMC is available on its website,
http://www.church-loans.net/ or by calling (800) 815-1175 extension
124. DATASOURCE: American Church Mortgage Company CONTACT: Scott J.
Marquis, Vice President, of American Church Mortgage Company,
+1-952-945-9455 x124 Web site: http://www.church-loans.net/
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