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Business Editors
SAN FRANCISCO--(BUSINESS WIRE)--Jan. 30, 2004
Capital Alliance Income Trust Ltd. ("CAIT") (AMEX:CAA) announced that its Board has declared a dividend of $0.45 per Common Share for the first quarter of 2004. Based on the current common stock price of $18.78 per share, the annualized dividend yield is 9.58%. The dividend is payable on February 17, 2004 to shareholders of record on February 12, 2004.
CAIT is a specialty residential lender which originates and invests in conforming and high-yielding, non-conforming residential mortgage loans on one-to-four-unit-residential properties located primarily in California and other western states. It also originates loans for sale to investors, on a whole-loan basis for cash through its mortgage banking subsidiary, Capital Alliance Funding Corporation. All loans with a combined loan-to-value ratio of greater than 75% of the collateral's appraised value at the time of funding are pre-sold into the secondary market. Only residential loans with a ...
Source: HighBeam Research, Capital Alliance Income Trust Ltd. Announces Quarterly Dividend at...