PMC Commercial Trust Announces First Quarter Dividend of $0.225 Per Share
17 Mars 2009 - 9:16PM
PR Newswire (US)
DALLAS, March 17 /PRNewswire-FirstCall/ -- PMC Commercial Trust
(the "Company," "we" or "our") (NYSE Alternext US: PCC), a real
estate investment trust ("REIT"), announced today that its Board of
Trust Managers (the "Board") has declared a first quarter 2009
quarterly cash dividend of $0.225 per common share payable on April
13, 2009 to shareholders of record on March 31, 2009. The dividend
is our 61st consecutive quarterly dividend. The Board maintained
the first quarter dividend at $0.225 per share, in part to meet our
2008 dividend distribution requirements. However, driven by the
lower variable interest rate environment and significant economic
uncertainties, we anticipate a dividend reduction commencing with
our second quarter. Unless market conditions deteriorate further,
we anticipate that the dividend will be no less than $0.16 per
share for our second quarter dividend which the Board will then
adjust as needed, on a quarterly basis, thereafter. Given these
uncertainties and our focus on liquidity, we are taking a more
conservative approach. PMC Commercial Trust primarily originates
loans to small businesses primarily secured by real estate. Certain
matters discussed in this press release are "forward-looking
statements" intended to qualify for the safe harbors from liability
established by the Private Securities Litigation Reform Act of
1995. These forward-looking statements can generally be identified
as such because the context of the statement will include words
such as the Company "expects," "anticipates" or words of similar
import. Similarly, statements that describe the Company's future
plans, objectives or goals are also forward-looking statements.
Such forward-looking statements are subject to certain risks and
uncertainties, including the financial performance of the Company,
real estate conditions and market valuations of its shares, which
could cause actual results to differ materially from those
currently anticipated. The Company's ability to meet targeted
financial and operating results, including loan originations,
operating income, net income and earnings per share depends on a
variety of economic, competitive, and governmental factors,
including changes in real estate market conditions, changes in
interest rates and the Company's ability to access capital under
its credit facility or otherwise, many of which are beyond the
company's control and which are described in the Company's filings
with the Securities and Exchange Commission. Although the Company
believes the expectations reflected in any forward-looking
statements are based on reasonable assumptions, the Company can
give no assurance that its expectations will be attained.
Shareholders, potential investors and other readers are urged to
consider these factors carefully in evaluating the forward-looking
statements. The forward-looking statements made herein are only
made as of the date of this press release and the Company
undertakes no obligation to publicly update such forward-looking
statements to reflect any changes in expectations, subsequent
events or circumstances. DATASOURCE: PMC Commercial Trust CONTACT:
Investor Relations of PMC Commercial Trust, +1-972-349-3235 Web
Site: http://www.pmctrust.com/
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