American Church Mortgage Company Declares Third Quarter Dividend
October 21 2004 - 4:46PM
PR Newswire (US)
American Church Mortgage Company Declares Third Quarter Dividend
MINNETONKA, Minn., Oct. 21 /PRNewswire-FirstCall/ -- AMERICAN
CHURCH MORTGAGE COMPANY ("ACMC") (Pink Sheets: ACMC), Minnetonka,
Minnesota, announced today the declaration by its Board of
Directors of a shareholder dividend for its third quarter ended
September 30, 2004 of $.165625 per share, representing an
annualized dividend yield of 6.625%. The dividend will be paid on
October 29, 2004 to shareholders of record as of September 30,
2004. Total revenues for the third quarter were $793,030, up from
$664,918 for the third quarter of 2003. 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, Church Loan Advisors,
Inc., +1-952-945-9455 ext. 124 Web site:
http://www.church-loans.net/
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