GINKGO MORTGAGE INVESTMENT CORPORATION Ginkgo Mortgage Investment Corporation Declares Second Special Dividend for the Year

Transparency directive : regulatory news

19/09/2023 06:00

TORONTO, ON / ACCESSWIRE / September 19, 2023 / Ginkgo Mortgage Investment Corporation ("Ginkgo") is delighted to announce that its Board of Directors has declared another special dividend of 2.5 cents per share (0.25%) for all Class "A" participating preferred shareholders on record as of March 31, 2023. This special dividend will be payable on September 30, 2023.

This marks Ginkgo's second special dividend announcement within the current year. In June of this year, the Board of Directors declared a special dividend of 2.5 cents per share (0.25%) payable on June 30, 2023, to all Class "A" participating preferred shareholders on record as of December 31, 2022. Ginkgo is pleased to extend this new special dividend to both Series 1 and Series 2 valued shareholders, as it reflects their ongoing commitment to delivering financial value and appreciation for their investors' continued trust and support.

This second special dividend announcement is a testament to Ginkgo's rigorous risk assessments and thorough contingency planning. Considering the prevailing economic conditions, Ginkgo's proactive response has not only allowed the company to adapt but also thrive, enhancing the benefits for its investors. The company's dedication to providing a reliable investment opportunity to its shareholders remains unwavering. 

For any questions regarding this news release or Ginkgo's portfolio performance, you can contact Yvonne Leung at +1-416-990-5567 or Elaine Mak at +1-647-660-2293 or investor@ginkgomic.com.  

About the Corporation: Ginkgo Mortgage Investment Corporation was founded in 2011 as a "mortgage investment corporation" for purposes of the Income Tax Act (Canada). As such, its business consists in the lending of money, principally to individuals, for the purpose of acquiring, developing, maintaining, or upgrading residential real estate or other real property, against the security of a mortgage granted on such property. Ginkgo conducts its mortgage lending activities on properties located in Canada, primarily in the Greater Toronto Area (GTA), Greater Vancouver Area (GVA), Alberta (Edmonton and Calgary), and the Winnipeg communities. Ginkgo's objective is to generate income while preserving, for its shareholders, capital for reinvestment. Since inception, Ginkgo has paid over $40 million in dividends to investors.

Legal Disclaimers

This press release is intended for information purposes only and does not constitute an offer to sell or a solicitation to buy securities. No securities regulatory authority or regulator has assessed the merits of the information herein or reviewed this press release. Further, the contents of this press release should be read in conjunction with Ginkgo's offering memorandum dated December 30, 2022, as amended from time to time, a copy of which can be made available to you by contacting us.

Past Performance; No Guarantees

Past performance is not a guarantee of future results and readers should not assume that the future performance of Ginkgo will be equal to or better than Ginkgo's historical performance.

Target yields with respect to Ginkgo's preference shares are merely targets determined from time to time by the Board of Directors in its sole discretion based on several factors including but not limited to the general economic conditions, local real estate markets, and prevailing levels of interest rates. The payment of dividends is subject to the discretion of the Board of Directors to establish working capital and other reserves for Ginkgo. Readers should not confuse Ginkgo's target yields with Ginkgo's rate of return or yield. There is no guarantee that Ginkgo will be able to pay dividends at the levels targeted. The number of dividends declared may fluctuate from time to time and there can be no assurance that Ginkgo will declare any dividends in any particular month or months or that Ginkgo will declare a special dividend for the same amount or at all in subsequent fiscal periods.

Forward-Looking Statements

Certain statements provided in this press release, to the extent that they relate to Ginkgo and its views or predictions about possible events, conditions, or results of operations that are based on assumptions about future economic conditions and courses of action and include future-oriented financial information with respect to prospective results of operations, financial position or cash flows that is presented either as a forecast or projection, may be "forward-looking statements" within the meaning of that phrase under applicable Canadian securities laws.

Although Ginkgo believes that expectations reflected in any forward-looking statements provided in this press release are reasonable, it cannot guarantee future results, levels of activity, performance, or achievements. Forward-looking statements are based on the current expectations, estimates, and projections of Ginkgo, and involve several known and unknown risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated.

The forward-looking statements herein are made as of the date they are provided in this press release. Except as otherwise required by law, Ginkgo does not intend to and assumes no obligation to, update or revise any forward-looking statements it may provide in this press release, whether because of new information, plans, events, or otherwise. Readers are cautioned not to place undue reliance on any forward-looking statements in this press release as there can be no assurance that the conditions, events, plans, and assumptions on which they are based will occur.

SOURCE: Ginkgo Mortgage Investment Corporation

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19/09/2023 06:00
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