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NEWPORT BEACH, CA-Locally based Impac Mortgage Holdings Inc. has announced that it will pay out a second quarter dividend of $.43 per common share in July.

This second quarter dividend will be paid on July 12, 2002 to shareholders of record on July 3, 2002, according to a recently released company statement. The $.43 dividend reflects an increase from the first quarter of 2002, when the dividend was $.40. Earlier in the year, Impac officials did set a standard of creating stability in the 2002 dividend rate, aiming to maintain it at $.40 or higher.

Impac has been enjoying a more favorable year in 2002 than was originally anticipated by company officials. They have already revised the year-end projections several times this year, with the most recent change occurring last month. In that revision, officials estimate that total assets will exceed $5 billion by the end of fourth quarter 2002.

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