American Mortgage Acceptance Company Increases Fourth Quarter Dividend for 2002; Represents 6.7% Increase Over Previous Quarter's Dividend.Business Editors NEW YORK--(BUSINESS WIRE)--Dec. 13, 2002 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 fourth quarter of 2002, payable on February 14, 2003, to shareholders of record as of December 31, 2002. The dividend represents a 6.7% increase over the $0.375 third quarter dividend per share. "We are very pleased to have increased our dividend per share to AMAC shareholders for the second time in 2002," commented Stuart Boesky, President and Chief Executive Officer of AMAC. "AMAC continues to pursue additional opportunities to add value for our shareholders." 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 an 11.70% dividend yield on the $13.68 per share closing price on December 12, 2002. 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 United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . 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 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 trends 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. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. |
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