Aames Financial Corporation Declared Cash Dividend on Series B, Series C and Series D Convertible Preferred Stock.Business Editors LOS ANGELES--(BUSINESS WIRE)--March 23, 2004 Aames Financial Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AMSF AMSF Australian Motor Sport Foundation AMSF Area Maintenance and Supply Facility (US Army) AMSF Army Morale Support Fund AMSF Area Maintenance Support Facility AMSF Army Maintenance Supply Facilities AMSF Alkali Metal Storage Facility ), a leader in subprime mortgage lending, declared a cash dividend on its Series B Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". , Series C Convertible Preferred Stock, and Series D Convertible Preferred Stock for the quarter ending March 31, 2004. The Company will pay this quarterly dividend, approximately $3.0 million, on March 31, 2004 to stockholders of record on March 16, 2004. The quarterly cash dividend is calculated based upon the dividend rate on the stated value Stated Value A value that, instead of being par value, is assigned to a corporation's stock for accounting purposes. Stated value has no relation to market price. Notes: of the shares accrued from January 1, 2004 through March 31, 2004. In connection with this cash dividend, the holders of Series B Convertible Preferred Stock will receive $0.016 per share, holders of Series C Convertible Preferred Stock will receive $0.081 per share and holders of Series D Convertible Preferred Stock will receive $0.014 per share. All fractional payment amounts will be rounded up to the nearest cent for each shareholder. Aames Financial Corporation is a leading home equity lender, and at December 31, 2003 operated 93 retail branches, five regional broker operations centers and two National Loan Centers throughout the United States. For more information, contact either Mr. Ronald J. Nicolas, Jr., Executive Vice President and Chief financial Officer or Jon D. Van Deuren, Senior Vice President, Finance and Chief Accounting Officer in the Company's Investor Relations Investor relations The process by which the corporation communicates with its investors. Department at 323-210-5311 or at info@aamescorp.com via email. Additional information may also be obtained by visiting www.aames.net, the Company's website. From time to time the Company may publish forward-looking statements relating to such matters as anticipated financial performance, business prospects and similar matters. The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company's actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company's forward-looking statements. The risks and uncertainties that may affect the operations, performance and results of the Company's business include the following: increases in mortgage lending interest rates; adverse changes in the secondary market for mortgage loans; decline in real estate values; decreases in earnings from the Company calling securitization trusts; limited cash flow to fund operations; dependence on short-term financing facilities; obligations to repurchase mortgage loans and indemnify investors; concentration of operations in California, Florida and Texas; extensive government regulation; concentrated ownership of the Company by a single stockholder; losses in securitization trusts; and intense competition in the mortgage lending industry. For a more complete discussion of these risks and uncertainties, see "Item 7. Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations -- Risk Factors" in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended June 30, 2003 and subsequent filings by the Company with the United States Securities and Exchange Commission. |
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