NEWPORT BEACH, Calif., March 29 /PRNewswire-FirstCall/ -- Joseph R.
Tomkinson, Chairman and CEO of Impac Mortgage Holdings, Inc. (NYSE: IMH), or
the "Company," a Maryland corporation, being taxed as a Real Estate Investment
Trust ("REIT"), is pleased to announce the Board of Directors' approval and
declaration of the 2005 first quarter dividend of $0.75 per common share. The
first quarter dividend will be paid April 15, 2005 to stockholders of record
on April 8, 2005. The ex-dividend date will be April 6, 2005. Therefore, new
stockholders interested in receiving the 2005 first quarter dividend must
purchase common stock on or before April 5, 2005.
Mr. Tomkinson commented, "The Company believes we have set a dividend
amount that we are comfortable with for the foreseeable future. Further, we
believe the fundamentals of the Company's businesses remain solid and we are
confident that our interest rate risk management strategies should result in
consistent, reliable dividends for our stockholders."
Monthly Fact Sheet
The Company posts to its web site a monthly unaudited fact sheet. The
monthly unaudited fact sheet is posted on or around the last day of the
following month. (i.e. January unaudited fact sheet was posted at end of
February) The February 2005 unaudited fact sheet will be posted on Friday,
April 1, 2005. You can subscribe to receive instant notification of
conference calls, new releases and the monthly unaudited fact sheets by using
our e-mail alert feature located at the web site http://www.impaccompanies.com under
Impac Mortgage Holdings, Inc. / Investor Relations / Contact IR / Email
Alerts.
Impac Mortgage Holdings, Inc. is a mortgage REIT which operates three core
businesses: (1) the Long-Term Investment Operations, (2) the Mortgage
Operations, and (3) the Warehouse Lending Operations. The Long-Term
Investment Operations invests primarily in Alt-A mortgage loans. The Mortgage
Operations acquires, originates, sells and securitizes primarily Alt-A
mortgage loans and the Warehouse Lending Operations provides short-term
financing to mortgage loan originators. The Company is organized as a REIT
for tax purposes, which generally allows it to pass through earnings to
stockholders without federal income tax at the corporate level.
Note: Safe Harbor "Statement under the Private Securities Litigation
Reform Act of 1995." This release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934, including statements relating to our
ability to pay common stock dividends. Forward-looking statements, some of
which are based on various assumptions and events that are beyond our control,
may be identified by reference to a future period or periods or by the use of
forward-looking terminology, such as "may," "will," "believe," "expect,"
"likely," "should," "anticipate," or similar terms or variations on those
terms or the negative of those terms. The forward-looking statements are
based on current management expectations. Actual results may differ
materially as a result of several factors, including, but not limited to, the
ability to generate sufficient liquidity and conduct our operations as
planned; the ability to access the equity markets; delays in raising, or the
inability to raise, additional capital, either through equity offerings, lines
of credit or otherwise as a result of, among other things, market conditions
or the inability to provide, or delay in providing, audited financial
statements and the auditor's report on our internal control over financial
reporting; the ability to generate taxable income and to pay dividends;
interest rate fluctuations and changes in expectations of future interest
rates; changes in prepayment rates on our mortgages; the availability of
financing and, if available, the terms of any financing; continued
availability to access the securitization markets or other funding sources;
changes in markets which the Company serves; the effectiveness of risk
management strategies; changes in other general market and economic
conditions, and other factors described in this press release and our filings
with the Securities and Exchange Commission, including "Risk Factors" in our
Quarterly Report on Form 10-Q for the quarter ended September 30, 2004.
Caution must be exercised in relying on these and other forward-looking
statements. Due to known and unknown risks and other factors not presently
identified, the Company's results may differ materially from its expectations
and projections. We do not undertake, and specifically disclaim any
obligation, to publicly release the results of any revisions that may be made
to any forward-looking statements to reflect the occurrence of anticipated or
unanticipated events or circumstances after the date of such statements.
For additional information, questions or comments, please call Tania
Jernigan, VP of Investor Relations at (949) 475-3722 or email
tjernigan@impaccompanies.com. Web site: http://www.impaccompanies.com
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