HomeMortgageArmada Mortgage Corp. Publicizes Enhance in Dividend

Armada Mortgage Corp. Publicizes Enhance in Dividend

Langley, British Columbia–(Newsfile Corp. – November 24, 2022) – Armada Mortgage Corp. (“Armada”) is happy to announce a month-to-month dividend improve to five.85% in response to the corporate’s regular progress. At yr finish, shareholders have the choice to have retained incomes paid out or DRIP and transformed into shares.

Armada’s portfolio has been steadily rising all year long, with the mortgage portfolio sitting at $46.7 million as of September 30, 2022, together with $9.74 million in new fundings. At present, Armada is lending on 13.95% extra mortgages than on the similar time final yr. The typical weighted loan-to-value (“LTV”) of the portfolio stays regular at 45.6%. Though the housing market is slowing down in British Columbia, Armada continues to be doing properly when it comes to enterprise quantity and purposes.

About Armada

Armada Mortgage Company is a Mortgage Funding Company (“MIC”) and different lender and exempt market product. The MIC invests in residential, building, and serviced land mortgage loans secured by first and second mortgages, and in distinctive instances, third mortgages. Armada has generated a easy common price of return of 6.82% since 2003 and is audited yearly. Share purchases are made by an EMD companion firm, Armada Wealth Administration.

Armada is a MIC in accordance with the Canadian Revenue Tax Act (“The Act”). Per the Act, the MIC isn’t topic to earnings tax because it distributes all of its web earnings and web realized capital features as dividends inside the time interval in response to part 130.1.

For additional data, please contact:

Arley Midgley
Supplier Consultant
[email protected]
604-467-6449 / 1-888-467-6449

To view the supply model of this press launch, please go to https://www.newsfilecorp.com/launch/145677

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