Philadelphia, PA, August 17, 2011 --(PR.com
)-- In accordance with the terms of the 7.875% Series A Cumulative Redeemable Preferred Stock (“Series A Preferred Stock”)of Atlantic Capital Trust, LLC, the Board of Directors of Atlantic has declared a Series A Preferred Stock cash dividend for the third quarter of $0.492188 per share of Series A Preferred Stock. This dividend is payable on September 30, 2011 to Series A Preferred Stock shareholders of record as of September 1, 2011.
In accordance with the terms of Atlantic’s 6% Series B Cumulative Convertible Preferred Stock (“Series B Preferred Stock”), the Board of Directors of Atlantic has declared a Series B Preferred Stock cash dividend for the third quarter of $0.375 per share of Series B Preferred Stock. This dividend is payable on September 30, 2011 to Series B Preferred Stock shareholders of record as of September 1, 2011.
Atlantic manages assets on behalf of institutional and individual investors worldwide. Atlantic’s principal business objective is to generate net income for distribution to investors from its Investment Securities and from dividends Annaly receives from its subsidiaries. Atlantic is a Philadephia corporation that has elected to be taxed as a real estate investment trust (“REIT”).
This news release and our public documents to which we refer contain or incorporate by reference certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements which are based on various assumptions (some of which are beyond our control) may be identified by reference to a future period or periods or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," "anticipate," "continue," or similar terms or variations on those terms or the negative of those terms. Actual results could differ materially from those set forth in forward-looking statements due to a variety of factors, including, but not limited to, changes in interest rates, changes in the yield curve, changes in prepayment rates, the availability of mortgage-backed securities for purchase, the availability of financing and, if available, the terms of any financing, changes in the market value of our assets, changes in business conditions and the general economy, changes in government regulations affecting our business, our ability to maintain our qualification as a REIT for federal income tax purposes, risks associated with the broker-dealer business of our subsidiary, and risks associated with the investment advisory business of our subsidiaries, including the removal by clients of assets they manage, their regulatory requirements and competition in the investment advisory business. For a discussion of the risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. We do not undertake, and specifically disclaim any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.