GMAC Municipal Mortgage Trust Announces Third Quarter Distribution to Preferred Shareholders.DENVER -- The board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. of GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance MUNICIPAL MORTGAGE TRUST declared a distribution to its Preferred Shareholders for the quarter ending September 30, 2005. The distributions were paid on Oct. 31, 2005 to Preferred Shareholders of record as of September 30, 2005 as follows: Series Preferred Rate Per Share Liquidation Equity Distribution Amount ---------------------------------------------------------------------- A-1-1 4.15% $5,187.50 $500,000/share A-1-2 4.90% $6,125.00 $500,000/share A-1-3 5.30% $6,625.00 $500,000/share A-2 4.80% $6,000.00 $500,000/share B-1 5.60% $7,000.00 $500,000/share B-2 5.50% $6,875.00 $500,000/share C-1 5.70% $7,125.00 $500,000/share In November 2004 the Trust completed an initial offering of $135 million of Preferred Shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. , and in March 2005 the Trust completed an offering of $80 million of Preferred Shares. Of the $215 million of Preferred Shares outstanding as of September 30, 2005, all shares were held by institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. . GMAC Municipal Mortgage Trust is a direct and indirect investor in tax-exempt mortgage revenue bonds and other investments that generate tax-exempt income Tax-exempt income Dividends and interest not subject to federal and, in some cases, state and local income taxes. . As of September 30, 2005, the Trust's portfolio of bonds consists of approximately $990 million of mortgage revenue bonds which finance approximately 114 multifamily developments located in 24 states. The real estate portfolio supporting the underlying bonds consists primarily of affordable multifamily properties. This news release does not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy any of these securities. The securities offered and sold have not been registered under the Securities Act, or any state securities laws. Unless so registered, the securities may not be offered or sold in 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. except pursuant to an exemption form the registration requirements of such securities laws. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Actual results may differ materially from these forward-looking statements as a result of various factors and risks. These forward-looking statements are based on information available to the Issuer at the time of this release and it assumes no obligation to update any such forward-looking statements. The statements in this release are not guarantees of future performance. |
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