TORONTO, Oct. 5, 2017 /CNW/ - Firm Capital Mortgage
Investment Corporation ("MIC") (TSX: FC), announces its monthly
cash dividend of $0.078 per share
payable to shareholders of record as follows:
|
Record
Date
|
Dividend
Payable
|
|
October 31,
2017
|
November 15,
2017
|
|
November 30,
2017
|
December 15,
2017
|
DIVIDEND AND SHARE PURCHASE PLAN
The Corporation has
in place a Dividend Reinvestment Plan ("DRIP") and Share Purchase
Plan that is available to its shareholders. The DRIP allows
participants to have their monthly cash dividends reinvested in
additional shares of the Corporation. A 3% discount will apply if
the weighted average trading share price, calculated five trading
days immediately preceding each dividend date, is higher than
$14.10. Once registered under the
Share Purchase Plan, participants have the right to purchase
additional shares, totaling no greater than $12,000 per year with a minimum of $250 per month. Participating shareholders pay no
commission for shares issued from treasury.
About The Corporation
Where Mortgage Deals Get
Done®
The Corporation, through its mortgage banker, Firm Capital
Corporation, is a non-bank lender providing residential and
commercial short-term bridge and conventional real estate
financing, including construction, mezzanine and equity
investments. The Corporation's investment objective is the
preservation of shareholders' equity, while providing shareholders
with a stable stream of monthly dividends from investments. The
Corporation achieves its investment objectives through investments
in selected niche markets that are under-serviced by large lending
institutions. Lending activities to date continue to develop a
diversified mortgage portfolio, producing a stable return to
shareholders. The Corporation is a Mortgage Investment Corporation
(MIC) as defined in the Income Tax Act (Canada). Accordingly, The Corporation is not
taxed on income provided that its taxable income is paid to its
shareholders in the form of dividends within 90 days after
December 31 each year. Such dividends
are generally treated by shareholders as interest income, so that
each shareholder is in the same position as if the mortgage
investments made by the company had been made directly by the
shareholder. Full reports of the financial results of the
Corporation for the year are outlined in the audited financial
statements and the related management discussion and analysis of
Corporation, available on the SEDAR website at
www.sedar.com. In addition, supplemental information is
available on Corporation's website at www.firmcapital.com.
Boutique Mortgage Lenders®
SOURCE Firm Capital Mortgage Investment Corporation