Municipal Mortgage (NYSE:MMA)
Historical Stock Chart
From Jul 2019 to Jul 2024
MuniMae (NYSE:MMA) announced today that its Board of
Directors declared a distribution of $0.4975 per common share payable
on May 23, 2006, to shareholders of record as of May 10, 2006. This
represents an increase of 4.2% over the distribution for the
comparable period last year. On an annualized basis, the distribution
equates to $1.99 per common share and represents a 7.4% yield based on
the May 3, 2006 closing price of $26.95 per share. The stated yield
does not take into account any higher net return investors may realize
as compared with other investments because a portion of the
distribution is exempt from Federal income taxes.
About MuniMae
MuniMae and its subsidiaries arrange debt and equity financing for
developers of multifamily housing, and provide other real estate
related investment management and advisory services. Assets under
management are more than $16 billion secured by 3,000 properties,
containing 330,000 units in 49 states, the District of Columbia,
Puerto Rico and the U.S. Virgin Islands.
MuniMae is organized as a limited liability company, which allows
it to combine the limited liability, governance and management
characteristics of a corporation with the pass-through income features
of a partnership. As a result, the tax-exempt income derived from
certain investments remains tax-exempt when passed through to
shareholders. Distributions to shareholders are normally declared
quarterly.
Statements in this press release that are not historical fact may
be deemed forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. 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. Factors that could cause
actual results to differ materially from the Company's expectations
include completion of pending investments, continued ability to
originate new investments, the mix of business between tax-exempt and
taxable activities, the availability and cost of capital for future
investments, competition within the finance and real estate
industries, economic conditions, loss experience and other risks
detailed from time to time in the Company's SEC reports. This press
release does not constitute an offer to sell any securities of the
Company or any other entity.
MUNIMAE: INTEGRITY. INNOVATION. SERVICE.
www.MuniMae.com