This first quarter dividend marks an 8% increase from fourth quarter 2001, when the dividend was $.37. The company plans to maintain the 2002 dividend rate at $.40 or higher, as it is aiming to create stability in its payments this year, says Chairman and CEO Joseph R. Tomkinson.
He adds that Impac is now positioned to deliver more consistent earnings, as a result of the company's interest rate management policies and concentration on investment in high credit quality Alt-A non-conforming mortgage loans. Impac plans to increase total assets to approximately $3.3 billion by the end of this quarter and expects to exceed its year-end target growth initiatives of $3.7 billion in total assets.
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