Charter Municipal Mortgage Acceptance Company.The Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. of Charter Municipal Mortgage Acceptance Company has declared a dividend of $0.265 per share for the second quarter of 2000, payable on Aug. 14, to shareholders of record on June 30. CharterMac'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 $1.06 per share, representing an 86 percent yield on the $12 3/8 per share closing price on June 14, 2000. Assuming the company's income during the year continues to be approximately 97 percent exempt from Federal income tax and a shareholder is in a 39.6 percent tax bracket Tax Bracket The rate at which an individual is taxed due to a particular income level. Notes: Each income class is taxed at a different level. Generally, the more you make the more you are taxed. , the taxable equivalent yield Taxable equivalent yield The return from a higher-paying but taxable investment that would equal the return from a tax-free investment. This depends on the investor's tax bracket. would be approximately 14.0 percent. In addition, CharterMac also reported that the Board of Trustees of CharterMac Equity Issuer Trust, a wholly-owned subsidiary of CharterMac, has declared a dividend of $33,125 per share on its 6518 percent Series A Cumulative Preferred Shares. The dividend, which represents the payment for the quarter ended June 30, will be paid July 31. |
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