American Mortgage again opts not to declare dividend on shares, 7.25% convertible preferreds

By Jennifer Chiou

New York, Sept. 16 - American Mortgage Acceptance Co.'s board of trustees did not declare a dividend on the company's 7.25% series A cumulative convertible preferred shares and common shares for the third quarter of 2008.

The decision was made in the interest of preserving American Mortgage's capital, a company news release said, adding that no dividend was declared in the previous quarter.

American Mortgage is a New York real estate investment trust. The company specializes in originating and acquiring mortgage loans and other debt instruments secured by multifamily and commercial properties throughout the United States.

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