New York Mortgage Trust Declares Fourth Quarter 2006 Common Stock Dividend
December 18 2006 - 6:44PM
PR Newswire (US)
NEW YORK, Dec. 18 /PRNewswire-FirstCall/ -- New York Mortgage
Trust, Inc. (NYSE:NTR), announced today that its Board of Directors
declared a cash dividend of $0.05 per share on shares of its common
stock for the quarter ended December 31, 2006. The dividend is
payable on January 26, 2007, to stockholders of record as of
January 5, 2007. 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: A. Bradley Howe, Senior Vice President and
General Counsel of New York Mortgage Trust, Inc., +1-212-634-9401,
; or Joe Calabrese, General, +1-212-827-3772, or Julie Tu,
Analysts, +1-212-827-3776, both of Financial Relations Board
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