Eclipse Residential Mortgage Investment Corporation

Eclipse Residential Mortgage Investment Corporation

January 12, 2017 08:58 ET

Eclipse Residential Mortgage Investment Corporation Increases Dividend

TORONTO, ONTARIO--(Marketwired - Jan. 12, 2017) - (TSX:ERM) Eclipse Residential Mortgage Investment Corporation ("Eclipse") is pleased to announce a 15.4% increase in the dividend rate to $0.0625 per Common Share per month for record dates from January to March 2017. This represents an annualized dividend of $0.75 per Common Share or a distribution yield of 7.7% based on the January 10, 2017 closing price.

Record Date Payment Date
January 31, 2017 February 14, 2017
February 28, 2017 March 14, 2017
March 31, 2017 April 17, 2017

The dividend increase is consistent with the previously disclosed increase that was intended following the transition of Eclipse from the Canadian securities regulatory regime for investment funds to the regulatory regime for reporting issuers that are not investment funds, which became effective January 4, 2017.

Eclipse has paid total dividends of approximately $2.14 per Common Share since inception to December 31, 2016 and the dividend has been increased twice, while also growing the book value per Common Share. Since inception to December 31, 2016, Eclipse has generated a total return of 7.8%(1) per annum. Eclipse expects to announce the implementation of an amended dividend reinvestment plan later in January 2017 to allow shareholders to realize the benefits of compound growth through an efficient, commission-free program.

About Brompton Funds

Brompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund manager with approximately $2.0 billion in assets under management. Brompton's investment solutions include TSX listed closed-end funds, mutual funds, hedge funds and flow-through limited partnerships. For further information, please contact your investment advisor, call Brompton's investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email or visit our website at

About MCAP Financial Corporation

One of Canada's largest mortgage financing companies, MCAP Financial Corporation ("MCAP") originates and services all mortgages for Eclipse. MCAP has more than 20 years of experience underwriting and servicing Canadian Single Family Residential Mortgages, with over $60 billion in mortgage assets managed for banks, lifecos, credit unions and institutional investors.

(1) Please see for returns for all periods.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to Eclipse, to the future outlook of Eclipse and anticipated events or results and may include statements regarding the future financial performance of Eclipse. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.

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