AGIT's income account by six special dividends
paid by portfolio
Accounting principles generally accepted in the United States (GAAP) require that all reported per share data, for current and prior periods, be adjusted to reflect the issuance of the shares in connection with these special dividends
as if such shares had been issued at the beginning of the earliest period presented.
In addition, Biovail may approve the payment of future special dividends
, subject to the continuation of positive business trends and at the discretion of the Board.
With that said, the likelihood of any additional special dividends
cannot be predicted at this time.
From time to time in the future, special dividends
may be distributed in order to remain in compliance with REIT requirements.
We want to stress that special dividends
should not be relied upon going forward.
Rooney, President and Chief Executive Officer, stated that "The special dividends
are a result of our on-going commitment to enhancing shareholder value.
Our Board of Directors reviews a variety of factors, including REIT taxable income for the full tax year, when considering the authorization of special dividends
three years of 125p each, giving total special dividends
per share of
As required by the NASD rules governing special dividends
of this magnitude, the ex-dividend date will be set one business day following the payment date.
It is the Company's intention to continue to pay regular quarterly dividends and to determine the appropriateness of special dividends
based upon the Company's relative performance in the future.
President and Chief Executive Officer of the Bank, stated "In the last six years, regular and special dividends
declared have increased each year, from a total of $0.