Atrium Mortgage Investment Corporation Announces Change in Finance Department Leadership and March 2025 Dividend

Rhea-AI Summary

Atrium Mortgage Investment (TSX: AI) announced that CFO John Ahmad will step down on March 31, 2025, to pursue a role at a consumer finance company. Razvan Vulcu, VP Finance and former PwC professional, will serve as interim CFO during the search for a permanent replacement.

The company declared a monthly dividend of $0.0775 per common share for March 2025, payable on April 11, 2025, to shareholders of record on March 31, 2025. The current annual dividend rate is $0.93 per share, with potential additional special dividends at year-end if declared dividends are below taxable income.

Shareholders can participate in the company's Dividend Reinvestment Plan (DRIP), which offers automatic dividend reinvestment in new shares at a 2% discount from market price with no commissions.

Positive

• Consistent dividend payment maintained at $0.93 annual rate
• 2% discount offered on DRIP program for shareholders
• Potential additional special dividend at year-end

Negative

• CFO departure could create temporary leadership gap
• Interim CFO arrangement indicates uncertainty in financial leadership

Toronto, Ontario--(Newsfile Corp. - March 17, 2025) - Atrium Mortgage Investment Corporation (TSX: AI) announces that John Ahmad will step down as CFO effective March 31, 2025 to assume a finance executive role at a consumer finance company.

Robert Goodall, CEO of Atrium, stated, "John joined Atrium and its manager, Canadian Mortgage Capital Corporation ("CMCC") in late 2022 and was quick to learn about our business and markets. He played a key role in navigating through the downturn in the credit cycle through his diligent analysis and detailed reporting. He led finance, administrative, and operations functions and has contributed across various facets of the business including debt refinancings, our latest equity offering, investor relations, and reporting enhancements. I want to thank John for his efforts and wish him the best in the next chapter in his career."

"Razvan Vulcu, VP Finance will assume the role of interim CFO while a search is undertaken and a replacement is appointed. Razvan joined Atrium and CMCC in 2021 after working at PwC in Toronto. He is a qualified CPA and holds a Bachelor of Commerce from Queens University."

Atrium is also pleased to announce that its board of directors has declared a dividend for the month of March 2025 of $0.0775 per common share, to be paid April 11, 2025 to shareholders of record March 31, 2025.

Atrium pays monthly dividends currently at an annual rate of $0.93 per share, plus a special dividend to shareholders of record at year-end in the event the dividends declared are less than taxable income for that fiscal year.

Shareholders are reminded that Atrium offers a dividend reinvestment plan (DRIP) that allows them to automatically reinvest their dividends in new shares of Atrium at a 2% discount from market price and with no commissions. This provides shareholders with an easy way to realize the benefits of compound growth of their investment in Atrium. Shareholders can enroll in the DRIP program by contacting their investment advisor.

About Atrium

Canada's Premier Non-Bank Lender™

Atrium is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high. Atrium's objectives are to provide its shareholders with stable and secure dividends and preserve shareholders' equity by lending within conservative risk parameters.

Atrium is a Mortgage Investment Corporation (MIC) as defined in the Canada Income Tax Act, so is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the company had been made directly by the shareholder. For further information, please refer to regulatory filings available at www.sedarplus.ca or Atrium's website at www.atriummic.com.

For further information, please contact

Robert G. Goodall
Chief Executive Officer

John Ahmad
Chief Financial Officer

(416) 867-1053
info@atriummic.com
www.atriummic.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/244837

FAQ

What is the March 2025 dividend amount for Atrium Mortgage Investment (AMIVF) shareholders?

Atrium will pay $0.0775 per common share for March 2025, with payment on April 11, 2025, to shareholders of record March 31, 2025.

What benefits does Atrium's DRIP program offer to AMIVF shareholders?

The DRIP program allows automatic dividend reinvestment in new shares at a 2% market price discount with no commissions.

Who will replace John Ahmad as CFO of Atrium Mortgage Investment (AMIVF)?

Razvan Vulcu, VP Finance, will serve as interim CFO while the company searches for a permanent replacement.

What is the current annual dividend rate for AMIVF shares?

The current annual dividend rate is $0.93 per share, plus potential special year-end dividends if declared dividends are less than taxable income.