SOURCE: American Church Mortgage Company

American Church Mortgage Company

April 14, 2011 13:51 ET

American Church Mortgage Company Declares First Quarter Dividend

MINNETONKA, MN--(Marketwire - Apr 14, 2011) - AMERICAN CHURCH MORTGAGE COMPANY ("ACMC") (PINKSHEETS: ACMC), Minnetonka, Minnesota, announced the declaration by its Board of Directors of a shareholder dividend for its first quarter ended March 31, 2011 of $.11 per share.

The dividend is to be paid on April 29, 2011 to shareholders of record as of April 26, 2011. Total revenues for the first quarter of 2011 were $788,524, versus $904,554 for the first quarter of 2010. Earnings before items were $.11 per share versus $.13 per share for the first quarter ended March 31, 2011 and 2010, respectively. The Company operates as a real estate investment trust, and revenues of the Company are derived primarily from interest income earned from loans to churches and other non-profit religious organizations.

On April 1, 2009, American Church Mortgage Company registered a public offering of $20,000,000 of Series "C" Secured Investor Certificates with the SEC. The offering is being conducted by American Investors Group, Inc., Minnetonka, Minnesota on a best efforts basis.

For more complete information about ACMC's public offering, including charges and expenses, a Prospectus may be obtained from American Investors Group, Inc., 10237 Yellow Circle Drive, Minnetonka, Minnesota 55343 or by calling (800) 815-1175 extension 134. Investors are encouraged to carefully read the Prospectus before investing and forwarding funds.

Information concerning ACMC is available on its website, www.church-loans.net or by calling (800) 815-1175 extension 127.

Contact Information

  • Contact:
    Scott Marquis
    CFO
    (952) 252-0909