American Mortgage Acceptance Company Announces First Quarter Dividend for 2003.Business Editors/Real Estate Writers NEW YORK--(BUSINESS WIRE)--March 14, 2003 The Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. of American Mortgage Acceptance Company ("AMAC AMAC Adults Molested As Children AMAC Assistance to Mine-Affected Communities AMAC Aircraft Monitor And Control AMAC Approximate Message Authentication Code AMAC American Military Arms Corporation AMAC Asset Management Assistance Center " or the "Company") (AMEX AMEX See: American Stock Exchange :AMC (Advanced Mezzanine Card) See AdvancedTCA. ) has declared a dividend of $0.40 per share for the first quarter of 2003, payable on May 15, 2003, to shareholders of record as of March 31, 2003. AMAC's present quarterly dividend on an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. basis is $1.60 per share, representing a 10.4% dividend yield on the $15.45 per share closing price on March 13, 2003. The Board of Trustees has also announced that the Company's Annual Meeting of Shareholders will take place at 10:00 a.m. on June 11, 2003, for shareholders of record as of April 16, 2003. The Annual Meeting will be held at the offices of Paul, Hastings, Janofsky & Walker LLP LLP - Lower Layer Protocol , at 75 East 55th Street, New York, New York. Additionally, the Board of Trustees has announced that it has renewed AMAC's advisory contract with its advisor, Related AMI Associates, Inc., for a term of one year. About the Company AMAC is a real estate investment trust that specializes in multifamily housing finance. AMAC originates and acquires mezzanine loans, bridge loans, and government-insured first mortgages secured by multifamily housing properties throughout the United States. For more information, please visit our website at http://www.americanmortgageco.com or contact the Shareholder Services Department directly at (800) 831-4826. Certain statements in this press release may constitute forward-looking statements within the meaning of the "safe harbor" provisions of 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. These statements are based on management's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such forward-looking statements speak only as of the date of this press release. AMAC expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in AMAC's expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based. |
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