American Church Mortgage Company Declares First Quarter Dividend
MINNETONKA, Minn., May 13 /PRNewswire-FirstCall/ — AMERICAN CHURCH
MORTGAGE COMPANY (Pink Sheets: ACMC), Minnetonka, Minnesota, announced the
declaration by its Board of Directors of a shareholder dividend for its
first quarter ended March 31, 2008 of $.10 per share, representing an
annualized dividend yield of 4.00%.
The dividend was paid on April 30, 2008 to shareholders of record as of
March 31, 2008. Net operating income for the first quarter was
61,858,
versus $418,528 for the first quarter of 2007. The Company operates as a
real estate investment trust and revenues of the Company are derived
primarily from interest income earned from loans to churches and other
non-profit religious organizations.
Information concerning ACMC is available on its website,
http://www.church-loans.net or by calling (800) 815-1175 extension 124.
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Source: Real Estate Newswire