News Release
NEWPORT BEACH, Calif., Aug. 12 /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 that in accordance with the terms of the Company's 9.375% Series B Cumulative Redeemable Preferred Stock (NYSE: IMHPrB), the Board of Directors has declared a preferred stock dividend of $0.58594 per share for the period beginning on July 1, 2005 ending September 30, 2005. The dividend will be paid on September 30, 2005 to those preferred stockholders of record as of September 1, 2005. The ex-dividend date will be August 30, 2005. Furthermore in accordance with the terms of the Company's 9.125% Series C Cumulative Redeemable Preferred Stock (NYSE: IMHPrC), the Board of Directors has declared a preferred stock dividend of $0.57031 per share for the period beginning on July 1, 2005 ending September 30, 2005. The dividend will be paid on September 30, 2005 to those preferred stockholders of record as of September 1, 2005. The ex-dividend date will be August 30, 2005.
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 and to a lesser extent small balance multi-family loans originated by our multi-family division. 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.
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: www.impaccompanies.com
SOURCE Impac Mortgage Holdings, Inc. 08/12/2005 CONTACT: Tania Jernigan, VP of Investor Relations of Impac Mortgage Holdings, Inc., +1-949-475-3722, tjernigan@impaccompanies.com Web site: http://www.impaccompanies.com
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