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American Home Mortgage Investment Corp., 9.25% Cumul Redeem Pfd Stock B
Ticker Symbol: AHMNQ* CUSIP: 02660R305 Exchange: OTOTC
* NOTE: This security is no longer trading as of 3/15/2011
Security's Distribution is Suspended!
QUANTUMONLINE.COM SECURITY DESCRIPTION: American Home Mortgage Investment Corp., 9.25% Series B Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 12/15/2009 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Distributions of 9.25% ($2.3125) per annum are paid quarterly on 1/31, 4/30, 7/31 & 10/31 to holders of record on the date fixed by the board, not more than 30 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (AHMIQ*)
Notes: March 15, 2011 -- Certification of Termination was filed with the SEC for Common Stock; 9.75% Series A Cumulative Redeemable Preferred Stock; 9.25% Series B Cumulative Redeemable Preferred Stock ________________ On May 1, 2009, the Debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (the "Bankruptcy Code"). The five (5) cases (collectively, the "Bankruptcy Cases") are jointly administered under Case No. 09-11516 and are pending before the Honorable Mary F. Walrath in the United States Bankruptcy Court for the District of Delaware. ____________
Aug. 6, 2007 -- American Home Mortgage Investment Corp. (NYSE: AHM) today reported that its Board of Directors, after carefully assessing the sudden adverse impact on the Company's liquidity and business from the extraordinary disruptions now occurring in the secondary mortgage and real estate markets, has authorized management to seek protection for the Company through the bankruptcy process in order to best preserve the value of the Company's assets. Accordingly, American Home Mortgage Investment Corp., together with certain of its subsidiaries, has today filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. Under the protection of Chapter 11, American Home will have the time and opportunity to achieve the best possible value for the creditors of its mortgage based assets and related operations, as well as an orderly wind down of the Company. American Home ceased taking mortgage applications on August 1, 2007 and separated all production employees on August 3, 2007. The Company is currently maintaining its thrift and servicing businesses. ____________ July 27, 2007 -- American Home Mortgage Investment Corp. announced today that its Board of Directors has decided to delay payment of its quarterly cash dividend on the Company's common stock and anticipates delaying payment of its quarterly cash dividends on its Series A Cumulative Redeemable Preferred Stock and Series B Cumulative Redeemable Preferred Stock in order to preserve liquidity until it obtains a better understanding of the impact that current market conditions in the mortgage industry and the broader credit market will have on the Company's balance sheet and overall liquidity. The disruption in the credit markets in the past few weeks has been unprecedented in the Company's experience and has caused major write-downs of its loan and security portfolios and consequently has caused significant margin calls with respect to its credit facilities. The quarterly cash dividend of $0.70 per share on the Company's common stock had been declared on June 15, 2007 and was to be paid on July 27, 2007 to all shareholders of record as of July 9, 2007. The Series A Preferred Stock dividend and Series B Preferred Stock dividend had been declared on June 15, 2007 and are payable on July 31, 2007, to shareholders of record as of July 9, 2007.
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IPO - 12/10/2004 - 3.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: AHM-B Changed: 8/06/2007
Market Value $75.0 Million
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 529 Broadhollow Road, Melville, NY 11747 |
Main Phone Number |
516-949-3900 |
Fax Number |
Not Available |
Investor Relations
Mary M. Feder
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631-622-6469
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Toll Free Phone Number |
877-281-5500 |
CEO - Michael Strauss |
CFO - Stephen A. Hozie |
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