TORONTO, ON / ACCESSWIRE / April 17, 2024 / Ginkgo Mortgage Investment Corporation ("Ginkgo MIC") is pleased to announce that its Board of Directors has approved a special dividend of 2.5 cents per share (0.25%) on all Class A Preferred Shares for eligible shareholders on record as of December 31, 2023.
"In addition to the targeted annual dividends of 9.75% for Series 1 and 9.0% for Series 2, distributed monthly on the 15th , shareholders can expect to receive the special dividend by April 30, 2024. This one-time distribution highlights Ginkgo MIC's strong financial performance and optimistic outlook for the future," stated Henry Tse, CEO of Ginkgo MIC.
This announcement marks the first special dividend approved in 2024. In the 2023 calendar year, Ginkgo MIC distributed two special dividends totaling 5 cents (0.5%) per share.
Ginkgo MIC remains committed to providing attractive returns to its shareholders while maintaining a robust financial position. The declaration of this special dividend underscores Ginkgo MIC's ongoing efforts to enhance shareholder value and reinforces its position as a leader in the mortgage investment industry.
For any questions regarding this news release or Ginkgo MIC's fund performance, you can visit www.GinkgoMic.com, email investor@ginkgomic.com, or contact Yvonne Leung at 416-990-5567.?
About The Corporation: ?Ginkgo Mortgage Investment Corporation was founded in 2011 and serves across Canada as an alternative lender. The MIC provides?dividends?to investors through a diversified portfolio that is secured by properties primarily in the Greater Toronto Area (GTA), Greater Vancouver Area (GVA), Alberta (Edmonton and Calgary) and the Winnipeg communities. Since inception, Ginkgo has paid over $49 million dividends to investors.
Legal Disclaimers
This press release is intended for information purposes only and does not constitute an offer to sell or a solicitation to buy securities. No securities regulatory authority or regulator has assessed the merits of the information herein or reviewed this press release. Further, the contents of this press release should be read in conjunction with Ginkgo's offering memorandum dated November 30, 2023, as amended from time to time, a copy of which can be made available to you by contacting us.
Past Performance; No Guarantees
Past performance is not a guarantee of future results and readers should not assume that the future performance of Ginkgo will equal or better Ginkgo's historical performance.
Target yields with respect to Ginkgo's preference shares are merely targets determined from time to time by the Board of Directors in its sole discretion based on several factors including but not limited to the general economic conditions, local real estate markets and prevailing levels of interest rates. The payment of dividends is subject to the discretion of the Board of Directors to establish working capital and other reserves for Ginkgo. Readers should not confuse Ginkgo's target yields with Ginkgo's rate of return or yield. There is no guarantee that Ginkgo will be able to pay dividends at the levels targeted. The amount of dividends declared may fluctuate from time to time and there can be no assurance that Ginkgo will declare any dividends in any particular month or months or that Ginkgo will declare a special dividend in for the same amount or at all in subsequent fiscal periods.
Forward-Looking Statements
Certain statements provided in this press release, to the extent that they relate to Ginkgo and its views or predictions about possible events, conditions or results of operations that are based on assumptions about future economic conditions and courses of action and includes future-oriented financial information with respect to prospective results of operations, financial position or cash flows that is presented either as a forecast or projection, may be "forward-looking statements" within the meaning of that phrase under applicable Canadian securities laws.
Although Ginkgo believes that expectations reflected in any forward-looking statements provided in this press release are reasonable, it cannot guarantee future results, levels of activity, performance or achievements. Forward-looking statements are based on the current expectations, estimates and projections of Ginkgo, and involve a number of known and unknown risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated.
The forward-looking statements herein are made as of the date they are provided in this press release. Except as otherwise required by law, Ginkgo does not intend to, and assumes no obligation to, update or revise any forward-looking statements it may provide in this press release, whether because of new information, plans or events or otherwise. Readers are cautioned not to place undue reliance on any forward-looking statements in this press release as there can be no assurance that the conditions, events, plans and assumptions on which they are based will occur.
SOURCE: Ginkgo Mortgage Investment Corporation
View the original press release on accesswire.com
