Vestin Realty Mortgage II, Inc. Declares Monthly Cash Dividend

Strategic Insights -

Vestin Realty Mortgage II, Inc. (Nasdaq:VRTB) has declared a cash dividend of $0.06 per common share for the month ended July 31, 2006. This dividend is payable on September 27, 2006, to shareholders of record as of September 12, 2006. The decision to declare this monthly dividend aligns with the company's previously announced decision to authorize the payment of dividends on a monthly basis. This move is aimed at maintaining the company's "REIT" federal tax status, which requires the payment of a minimum of 90% of taxable income in the form of dividends on an annual basis.

Key Takeaways:

  • The dividend is $0.06 per common share and is payable on September 27, 2006, to shareholders of record as of September 12, 2006.
  • The dividend is part of Vestin Realty Mortgage II, Inc.'s monthly dividend payment plan, which was authorized by the Board of Directors to maintain the company's "REIT" federal tax status.
  • To maintain REIT status, Vestin Realty Mortgage II, Inc. is required to pay out a minimum of 90% of its taxable income in the form of dividends on an annual basis.
  • Michael V. Shustek, Chairman and CEO of Vestin Realty Mortgage II, Inc., commented on the importance of declaring the monthly dividend in line with the company's previously announced decision.
  • Vestin Realty Mortgage II, Inc. is a real estate investment trust (REIT) that invests in short-term secured loans to commercial borrowers.
  • The company is managed by Vestin Mortgage, Inc., a subsidiary of Vestin Group, Inc., which has facilitated over $1.8 billion in lending transactions since 1995.
  • Vestin Mortgage, Inc. is a well-established asset management, real estate lending, and financial service company.

Statistics:

  • The dividend is $0.06 per common share.
  • The dividend is payable on September 27, 2006.
  • Shareholders must be of record as of September 12, 2006, to receive the dividend.
  • Vestin Realty Mortgage II, Inc. has authorized the payment of dividends on a monthly basis.
  • The company must pay out a minimum of 90% of taxable income in the form of dividends on an annual basis to maintain REIT status.
  • Vestin Mortgage, Inc. has facilitated over $1.8 billion in lending transactions since 1995.

Sources:

  • Nasdaq: VRTB
  • Vestin Realty Mortgage II, Inc. Press Release, August 25, 2006.