Municipal Mortgage (NYSE:MMA)
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MuniMae (the "Company") (NYSE:MMA), announced today that
its Board of Directors has declared a distribution of $0.4875 per
common share for the third quarter of 2005, payable on November 11,
2005, to shareholders of record as of October 31, 2005.
MuniMae's third quarter distribution equates to $1.95 per common
share on an annualized basis, representing an 8.0% annualized yield
based on the $24.50 per share closing price on October 20, 2005.
Management Announces Earnings Release and Conference Call
The Company expects to release 2005 third quarter earnings on
November 7, 2005. Management will host a conference call on November
8, 2005 at 9:00am ET to review the Company's third quarter results.
All interested parties are welcome to attend the live webcast, which
can be accessed through the "Shareholder" section of our web site at
www.MuniMae.com. You may also join the conference call by dialing
877-464-5945 (no Passcode required).
A telephone archived replay of the event will be available through
Wednesday, November 16, 2005, at 800-642-1687 (Passcode: 1513406). The
call will also be archived on our Company website through Friday,
November 18, 2005.
About MuniMae
MuniMae and its subsidiaries provide debt and equity financing to
developers of multifamily housing and other real estate investments.
Assets under management as of today are approximately $15 billion
secured by 2,800 properties, containing 303,000 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 and paid in February, May, August and November.
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