New York Mortgage Trust Declares Second Quarter 2006 Common Stock Dividend
June 15 2006 - 10:00AM
PR Newswire (US)
NEW YORK, June 15 /PRNewswire-FirstCall/ -- New York Mortgage
Trust, Inc. (NYSE:NTR), announced today that its Board of Directors
has declared a cash dividend of $0.14 per share on shares of its
common stock for the quarter ended June 30, 2006. The dividend is
payable on July 26, 2006, to shareholders of record as of July 6,
2006. About New York Mortgage Trust New York Mortgage Trust, Inc.,
a real estate investment trust (REIT), is engaged in the
origination of and investment in residential mortgage loans
throughout the United States. The Company, through its wholly owned
taxable REIT subsidiary, The New York Mortgage Company, LLC (NYMC),
originates a broad spectrum of residential loan products with a
focus on high credit quality, or prime, loans. In addition to prime
loans, NYMC also originates jumbo loans, alternative-A loans,
sub-prime loans and home equity or second mortgage loans through
its retail and wholesale origination branch network. The Company's
REIT portfolio is comprised of securitized, high credit quality,
adjustable and hybrid ARM loans, the majority of which, over time,
will be originated by NYMC. As a REIT, the Company is not subject
to federal income tax provided that it distributes at least 90% of
its REIT income to shareholders. This news release contains
forward-looking statements that predict or describe future events
or trends. The matters described in these forward- looking
statements are subject to known and unknown risks, uncertainties
and other unpredictable factors, many of which are beyond the
Company's control. The Company faces many risks that could cause
its actual performance to differ materially from the results
predicted by its forward- looking statements, including, without
limitation, the possibilities that a rise in interest rates may
cause a decline in the market value of the Company's assets, a
decrease in the demand for mortgage loans may have a negative
effect on the Company's volume of closed loan originations,
prepayment rates may change, borrowings to finance the purchase of
assets may not be available on favorable terms, the Company may not
be able to maintain its qualification as a REIT for federal tax
purposes, the Company may experience the risks associated with
investing in real estate, including changes in business conditions
and the general economy, and the Company's hedging strategies may
not be effective. The reports that the Company files with the
Securities and Exchange Commission contain a fuller description of
these and many other risks to which the Company is subject. Because
of those risks, the Company's actual results, performance or
achievements may differ materially from the results, performance or
achievements contemplated by its forward-looking statements. The
information set forth in this news release represents management's
current expectations and intentions. The Company assumes no
responsibility to issue updates to the forward-looking matters
discussed in this news release. DATASOURCE: New York Mortgage
Trust, Inc. CONTACT: Michael I. Wirth, Chief Financial Officer of
New York Mortgage Trust, Inc., +1-212-634-2342, ; or Joe Calabrese
- General, +1-212-827-3772, or Julie Tu - Analysts,
+1-212-827-3776, both of Financial Relations Board for New York
Mortgage Trust, Inc.
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