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ASSET INVESTORS CORP. DECLARES THIRD QUARTER DIVIDEND OF 18 CENTS PER SHARE

 ASSET INVESTORS CORP. DECLARES THIRD QUARTER DIVIDEND
 OF 18 CENTS PER SHARE
 DENVER, Sept. 11 /PRNewswire/ -- Asset Investors Corp. (NYSE: AIC) today announced its board of directors had declared a quarterly dividend of 18 cents per share for the quarter ending Sept. 30, 1992, payable on Sept. 30, 1992, to stockholders of record on Sept. 21, 1992. This dividend, when added to the 90 cents in dividends paid by the company in the first two quarters of 1992, brings cumulative dividend payments for the year to $1.08 per share. The company anticipates that all 1992 dividends to stockholders will result from REIT income as determined under the Internal Revenue Code and will not be considered a return of capital. The company paid a dividend of 70 cents per share for the third quarter of 1991.
 Spencer I. Browne, president and chief executive officer, stated, "The decrease in the company's dividend is a result of continued high levels of mortgage prepayments in 1992 as compared to 1991 on the Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corp. (FHLMC) mortgage collateral underlying the company's portfolio of CMO residual interests. The fast prepayments, which affect adversely the company's current income, are expected to continue through the end of the year, as the interest rate on fixed-rate mortgages has declined to less than 8 percent following the Federal Reserve Board's 50 basis point (.50 percent) decrease in the discount rate to 3 percent on July 2, 1992."
 Asset Investors Corp. is a real estate investment trust that generates income from a portfolio of ownership interests in issuances of collateralized mortgage obligations (CMOs) and other mortgage-related assets.
 -0- 9/11/92
 /CONTACT: Spencer Browne, president and CEO, or Michael Feinstein, Executive VP, 303-793-2703, both of Asset Investors; Gary Strong, 312-266-7800, or Regina Ryan, 212-661-8030, both of The Financial Relations Board/
 (AIC) CO: Asset Investors Corp. ST: Colorado IN: FIN SU: DIV


LR -- NY019 -- 8414 09/11/92 10:53 EDT
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Publication:PR Newswire
Date:Sep 11, 1992
Words:334
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