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PAINEWEBBER INDEPENDENT LIVING MORTGAGE FUND DECLARES DIVIDEND

 PAINEWEBBER INDEPENDENT LIVING MORTGAGE FUND DECLARES DIVIDEND
 BOSTON, Sept. 16 /PRNewswire/ -- The board of directors of PaineWebber Independent Living Mortgage Fund, Inc. today announced the declaration of a dividend of $.25 per share of common stock, payable on Oct. 15, 1992, to shareholders of record at the close of business on Sept. 30, 1992. This dividend equals a 10 percent annualized rate of return and is the 13th consecutive quarter for which this dividend will be paid.
 The company also announced the issuance of a new mortgage loan on Villa Santa Barbara in Santa Barbara, Calif. With this loan, the company's investment portfolio is now fully specified.
 -0- 9/16/92
 /CONTACT: Anthony C. Perkins, senior vice president of PaineWebber Properties, 617-439-8122/ CO: PaineWebber Independent Living Mortgage Fund Inc. ST: Massachusetts IN: FIN SU: DIV


CK-SM -- NY019 -- 1205 09/18/92 14:43 EDT
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Publication:PR Newswire
Date:Sep 18, 1992
Words:144
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