DALLAS--(BUSINESS WIRE)--Headline of release dated March 14, 2014 should read: PMC Commercial Trust Announces Cash Dividend (sted PMC Commercial Trust Announces Quarterly Cash Dividend).
The corrected release reads:
PMC COMMERCIAL TRUST ANNOUNCES CASH DIVIDEND
PMC Commercial Trust (NASDAQ:PMCT), a diversified real estate investment trust (REIT), announced today that its Board of Trust Managers has declared a cash dividend of $0.01 on each of its common shares and a cash dividend of approximately $2.6 million in the aggregate on the Class A Preferred Shares, which represents the stated rate of 2% of $35 per Class A Preferred Share. Each of these dividends will be paid on March 28, 2014 to shareholders of record as of March 24, 2014 and represents PMC’s dividend for the period from the date of PMC merger on March 11, 2014 to March 31, 2014.
ABOUT PMC COMMERCIAL TRUST
PMC Commercial Trust is a diversified real estate investment trust (REIT), which derives value through its stabilized real estate holdings and real estate lending platform. The company’s stabilized real estate and real estate-related assets are located in high density, high barrier-to-entry urban markets in the U.S. such as New York City, the Washington, D.C. metro area, Los Angeles, and the San Francisco Bay Area. The manager of PMC, CIM Group, is comprised of a seasoned team of real estate and investment professionals with extensive expertise including in-house research, acquisition, investment, development, finance, leasing, and asset management capabilities. In addition, PMC operates a real estate lending platform, which includes originating and servicing loans under the U.S. Small Business Administration 7(a) Guaranteed Loan Program as well as conventional loans.
The information set forth herein contains “forward-looking statements.” You can identify these statements by the fact that they do not relate strictly to historical or current facts or discuss the business and affairs of PMC on a prospective basis. Further, statements that include words such as “may,” “will,” “project,” “might,” “expect,” “believe,” “anticipate,” “intend,” “could,” “would,” “estimate,” “continue” “pursue,” or “should” or the negative or other words or expressions of similar meaning, may identify forward-looking statements.
PMC bases these forward-looking statements on particular assumptions that it has made in light of its experience, as well as its perception of expected future developments and other factors that it believes are appropriate under the circumstances. The forward-looking statements are necessarily estimates reflecting the judgment of PMC and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These forward-looking statements are subject to risks, uncertainties and other factors, including those set forth in the definitive proxy statement / prospectus of PMC dated December 30, 2013 under the heading “Risk Factors”, the supplement to proxy statement/ prospectus of PMC dated January 31, 2014 under the heading “Update to Risk Factors” and other risks detailed in PMC’s filings with the SEC, including but not limited to PMC’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013.
As you read and consider the information herein, you are cautioned to not place undue reliance on these forward-looking statements. These statements are not guarantees of performance or results and speak only as of the date hereof. These forward-looking statements involve risks, uncertainties and assumptions. In light of these risks and uncertainties, there can be no assurance that the results and events contemplated by the forward-looking statements contained herein will in fact transpire. New factors emerge from time to time, and it is not possible for PMC to predict all of them. Nor can PMC assess the impact of each such factor or the extent to which any factor, or combination of factors may cause results to differ materially from those contained in any forward-looking statement. PMC undertakes no obligation to publicly update or release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law.