EX-99.1 2 b58965hcexv99w1.htm EX-99.1 PRESS RELEASE DATED FEBRUARY 3, 2006 exv99w1
 

Exhibit 99.1
(Hanover Capital Mortgage Holdings, Inc. Logo)
New York: 55 Broadway- Suite 3002 * New York, NY 10006 * Ph: (212) 227-0075 * Fax: (212) 227-5434
For further information, contact:
Hanover Capital Mortgage Holdings, Inc.
John A. Burchett, CEO, Irma N. Tavares, COO, or Harold McElraft, CFO
732-548-0101
HANOVER CAPITAL MORTGAGE HOLDINGS ANNOUNCES
DIVIDEND TAX INFORMATION FOR 2005
     Edison, New Jersey, February 3, 2006 - Hanover Capital Mortgage Holdings, Inc. (AMEX: HCM) announced information about the classification of dividends for tax reporting purposes for the year 2005.
The table below provides tax information for each of Hanover’s common stock dividends for 2005.
Common Stock (AMEX: HCM) (CUSIP 410761100)
                                         
            Per Share Amounts  
                    Long term              
            Ordinary     Capital     Return of        
Dividend Record Date   Dividend Payable Date     Dividends     Gains     Capital     Total  
 
May 27, 2005
   June 6, 2005   $ 0.1792947       0.0707099       0.0499954       0.3000000  
August 22, 2005
   September 2, 2005     0.1792947       0.0707099       0.0499954       0.3000000  
November 23, 2005
   December 5, 2005     0.1494122       0.0589249       0.0416629       0.2500000  
December 31, 2005
   January 17, 2006     0.1494122       0.0589249       0.0416629       0.2500000  
 
                                
Total for 2005
           $ 0.6574138       0.2592696       0.1833166       1.1000000  
 
                                
The dividend paid on January 17, 2006, is considered 2005 income to recipients.
No “Qualifying Dividends” included in distributions.
No special designations for Long-term Capital Gains.
For shareholders that are corporations, Hanover’s dividends are not generally eligible for the corporate dividends-received deduction. No portion of Hanover’s 2005 common stock dividends consisted of “excess inclusion” income subject to the specialized tax reporting and other rules applicable to such income.
Hanover Capital Mortgage Holdings, Inc. is a mortgage REIT staffed by seasoned mortgage capital markets professionals. HCM invests in mortgage-backed securities and mortgage loans and engages in non-interest income-generating activities through its subsidiary Hanover Capital Partners 2, Ltd. doing business as Hanover Capital Partners and HanoverTrade. Hanover Capital Partners provides consulting and outsourcing services for third parties, including loan sale advisory services, loan file due diligence reviews, staffing solutions and mortgage assignment and collateral rectification services. HanoverTrade provides loan sale advisory and traditional loan brokerage services, technology solutions and valuation services. HanoverTrade also brokers loan pools, mortgage servicing rights and other similar assets through an Internet-based exchange. For information, visit HCM’s Web site at www.hanovercapitalholdings.com.
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Certain statements in this press release may constitute “forward-looking” statements as defined in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. HCM is including this cautionary statement to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements that are not historical fact are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements, to differ materially from future results, performance or achievements. The forward-looking statements are based on HCM’s current belief, intentions and expectations. These statements are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements include, but are not limited to, those factors, risks and uncertainties that are described in Item 1 of HCM’s Annual Report on Form 10-K for the year ended December 31, 2004 and in other securities filings by HCM. HCM’s future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. The forward-looking statements contained in this press release are made only as of the date hereof and HCM undertakes no obligation to update or revise the information contained in this announcement whether as a result of new information, subsequent events or circumstances or otherwise, unless otherwise required by law.
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