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ASSET INVESTORS CORP. DECLARES FIRST QUARTER DIVIDEND OF 50 CENTS PER SHARE

 ASSET INVESTORS CORP. DECLARES FIRST QUARTER
 DIVIDEND OF 50 CENTS PER SHARE
 DENVER, March 4 /PRNewswire/ -- Asset Investors Corp. (NYSE: AIC) today announced its board of directors had declared a quarterly dividend of 50 cents per share payable on March 31, 1992, to stockholders of record on March 16, 1992.
 The first quarter dividend represents a decrease of five cents per share from the 55 cents per share dividend declared for the first quarter of 1991. The decrease results from an anticipated reduction in first quarter 1992 REIT income as a result of a record level of refinancings which have increased significantly the level of mortgage prepayments of the Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corp. (FHLMC) Mortgage Collateral underlying the company's CMO residual interests. The company anticipates that a portion of its 1992 first quarter dividend will be from previous years' undistributed income.
 Spencer I. Browne, president and chief executive officer, stated, "We are continuing to implement our CMO residual acquisition program in order to mitigate the adverse effects on REIT income attributable to record levels of mortgage prepayments during the past six months. With the increased return of principal from our portfolio of CMO residuals, Assets Investors already has acquired or committed to acquire $10 million in new CMO residuals since the beginning of 1992. These new acquisitions were priced to yield the company 27 percent."
 Asset Investors Corp. is a real estate investment trust that generates income from a portfolio of ownership interests in the issuances of collaterialized mortgage obligations (CMOs) and other mortgage-related assets.
 For additional information on Asset Investors Corp., by FAX, no cost, dial 1-800-PRO-INFO, code No. 016.
 -0- 3/4/92
 /CONTACT: Spencer I. Browne, president & CEO, or Michael Feinstein, executive vice president, 303-793-2703, both of at Asset Investors Corp.; Gary Strong, 312-266-7800, Scott Snyderman, 212-661-8030, both of the Financial Relations Board for Asset Investors Corp./
 (AIC) CO: Asset Investors Corp. ST: Colorado IN: FIN SU: DIV


SM -- NY033 -- 4888 03/04/92 10:57 EST
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Publication:PR Newswire
Date:Mar 4, 1992
Words:342
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