Ameritrans Capital Corporation Declares Quarterly Dividend On 9 3/8% Preferred Stock.Business Editors NEW YORK--(BUSINESS WIRE)--Dec. 23, 2002 The board of directors of Ameritrans Capital Corporation (Nasdaq:AMTC AMTC Applied Media Technologies Corporation AMTC Aerospace Manufacturing Technology Centre (Canada) AMTC American Modeling and Talent Convention AMTC Army Missile Test Center (White Sands Missile Range, NM) , AMTCP) has declared a dividend of $0.28125 per share on its 9 3/8 % cumulative participating redeemable Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. for the period October 1, 2002 through December 31, 2002. The dividend is payable on January 28, 2003 to shareholders of record as of December 31, 2002. Gary C. Granoff, chairman and chief executive officer, said, "We are pleased to make the third dividend payment to the holders of our Preferred Stock. Based on the recent $9.35 closing price, the yield on this preferred is in excess of 12%. We continue to refinance our existing SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government debt, using the proceeds from the unit offering completed in the fourth quarter of fiscal 2002, and are materially reducing our interest expense. We look forward to continued growth in our loan portfolio, as we head into the second half of fiscal 2003." Ameritrans Capital Corporation is a specialty finance company engaged in making loans to and investments in small businesses. Ameritrans' wholly-owned subsidiary Elk Associates Funding Corporation has been licensed by 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. Small Business Administration (SBA) as a Small Business Investment Company since 1980. The company maintains its offices at 747 Third Avenue, 4th Floor, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10017. This announcement contains certain 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. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those presently anticipated or projected. Ameritrans Capital Corporation cautions investors not to place undue reliance on forward-looking statements, which speak only as to management's expectations on this date. |
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