Charter raises dividend. (Real Financing Estate).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 announced that the company has raised its quarterly cash dividend 3.4% to $0.30 per share, from $0.29 per share, for the fourth quarter of 2001, payable on Feb. 14, 2002, to shareholders of record on Dec. 31, 2001. This is CharterMac's second dividend increase in 2001, and the sixth since its inception in 1997. 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 $1.20 per share, representing a 7.6% yield on the $15.75 per share closing price on Dec. 12, 2001. Assuming the company's income during the year continues to be approximately 96% exempt from federal income tax and a shareholder is in a 39.1% 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 12.3%. In addition, CharterMac 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 and $8,875 per share on its 6 5/8% Series A Cumulative Preferred Noun 1. cumulative preferred - preferred stock whose dividends if omitted accumulate until paid out cumulative preferred stock preference shares, preferred shares, preferred stock - stock whose holders are guaranteed priority in the payment of dividends but Shares and 7.10% Series A-1 Cumulative Preferred Shares, respectively. The Board of Trustees of CharterMac Equity Issuer Trust also declared a dividend of $9,500 per share on its 7.60% Series B Subordinate Cumulative Preferred Shares. The dividends, which represent the payments for the quarter ended Dec. 31, 2001, will be paid Jan. 31, 2002. |
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