Altisource Residential (RESI) Declares $0.55 Quarterly Dividend; 10.5% Yield
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Altisource Residential Corporation Announces New Asset Management Agreement With Altisource Asset Management Corporation; Declares Quarterly Cash Dividend and Appoints George Ellison as President
March 31, 2015 4:26 PM EDTFREDERIKSTED, U.S. Virgin Islands, March 31, 2015 (GLOBE NEWSWIRE) -- Altisource Residential Corporation ("Residential" or the "Company") (NYSE: RESI) today announced that it has entered into a new Asset Management Agreement ("AMA") with Altisource Asset Management Corporation ("AAMC").
Highlights of the new AMA are as follows:
Results in substantial management fee savings to Residential compared to the previous asset management agreement, and is expected to be immediately accretive to the Company's earnings. The new fee structure will replace the existing fee structure, as follows: An annual base management fee equal to 1.5% of Residential's... MoreAltisource Residential Corporation Announces New Asset Management Agreement With Altisource Asset Management Corporation; Declares Quarterly Cash Dividend and Appoints George Ellison as President
March 31, 2015 4:26 PM EDTFREDERIKSTED, U.S. Virgin Islands, March 31, 2015 (GLOBE NEWSWIRE) -- Altisource Residential Corporation ("Residential" or the "Company") (NYSE: RESI) today announced that it has entered into a new Asset Management Agreement ("AMA") with Altisource Asset Management Corporation ("AAMC").
Highlights of the new AMA are as follows:
Results in substantial management fee savings to Residential compared to the previous asset management agreement, and is expected to be immediately accretive to the Company's earnings. The new fee structure will replace the existing fee structure, as follows: An annual base management fee equal to 1.5% of Residential's... More