VANCOUVER, March 20, 2013 /CNW/ - Trez Capital Senior Mortgage Investment Corporation (the "Company") announced today that its board of directors has declared its second monthly distribution of $0.0416 per Class A share of the Company. The distribution will be paid on April 15, 2013 to holders of Class A shares of record on March 29, 2013. As of March 20, 2013, there were 8,915,000 Class A shares outstanding. The amount of the monthly distributions is equivalent to approximately $0.50 per Class A Share per annum. This represents an annual cash distribution of 5.0% based on the $10 issue price of the Class A Shares.
About the Company
The Company's objective is to acquire and maintain a diversified portfolio of first mortgages in Canada that preserves capital and generates attractive returns in order to pay monthly distributions to its shareholders. The Company accomplishes its investment objectives through prudent investments in first mortgages to qualified real estate investors and developers, focusing primarily on short-term bridge financing needs not currently serviced by traditional real estate lenders. Trez Capital Fund Management Limited Partnership is the manager of and portfolio advisor to the Company.
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