Firm Capital Mortgage Investment Corporation - Confirmation of Special Year-End Dividend Amount and Reminder to Shareholders ...
January 07 2012 - 1:27PM
PR Newswire (Canada)
TSX Symbol FC TORONTO, Jan. 10, 2012 /CNW/ - Firm Capital Mortgage
Investment Corporation (the "Corporation") confirmed the previously
announced special year-end dividend of $0.054 per share. The
December and special year-end dividend, that total $0.132 per
share, will be payable on January 16, 2012 to Shareholders of
record on December 31, 2011. The special year-end dividend
recognizes that the annual income generated in 2011 exceeded
regular dividends. Accordingly, a special year-end dividend is
necessary to distribute all of the Corporation's income earned in
2011. The Special Dividend is not indicative of future performance
by the Corporation. Total dividends paid to Shareholders in 2011,
including the December and special year-end dividends, will amount
to $0.99 per share. Shareholders are reminded that they can
participate in the Corporation's Dividend Reinvestment Plan and
Share Purchase Plan. DIVIDEND REINVESTMENT PLAN (DRIP) The plan
allows participants to have their monthly cash dividends reinvested
in additional shares. The Price paid per share is 98% of the
weighted average trading price calculated five trading days
immediately preceding each dividend date with no commission cost.
SHARE PURCHASE PLAN Once registered with the Plan, participants
have the right to purchase additional shares, totalling no greater
than $12,000 per year and no less than $250 per month.
Shareholders participating pay no commission. For further
information, including answers to frequently asked questions about
the program, please refer to our website: www.Firmcapital.com, and
tab under the banner Firm Capital Mortgage Investment Corporation.
To enrol, please contact your investment advisor or if you are a
registered Shareholder complete the Authorization Form located on
our website and forward to our transfer Agent, Computershare Trust
Company of Canada, at the address noted on the web site. You can
also contact Investor Relations at the Corporation by calling
416-635-0221, who will assist you in enrolling in the program.
ABOUT THE CORPORATION 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. 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
Firm Capital, available on the SEDAR website at
www.sedar.com. In addition, supplemental information is
available on Firm Capital's website at www.firmcapital.com.
Forward-Looking Statements This news release contains
forward-looking statements within the meaning of applicable
securities laws including, among others, statements concerning our
objectives, our strategies to achieve those objectives, our
performance, our mortgage portfolio and our dividends, as well as
statements with respect to management's beliefs, estimates, and
intentions, and similar statements concerning anticipated future
events, results, circumstances, performance or expectations that
are not historical facts. Forward-looking statements
generally can be identified by the use of forward-looking
terminology such as "outlook", "objective", "may", "will",
"expect", "intent", "estimate", "anticipate", "believe", "should",
"plans" or "continue" or similar expressions suggesting future
outcomes or events. Such forward-looking statements reflect
management's current beliefs and are based on information currently
available to management. These statements are not guarantees of
future performance and are based on our estimates and assumptions
that are subject to risks and uncertainties, including those
described in our Annual Information Form under "Risk Factors" (a
copy of which can be obtained at www.sedar.com), which could cause
our actual results and performance to differ materially from the
forward-looking statements contained in this circular. Those
risks and uncertainties include, among others, risks associated
with mortgage lending, dependence on the Corporation's mic manager
and mortgage banker, competition for mortgage lending, real estate
values, interest rate fluctuations, environmental matters,
Shareholdertholder liability and the introduction of new tax
rules. Material factors or assumptions that were applied in
drawing a conclusion or making an estimate set out in the
forward-looking information include, among others, that the
Corporation is able to invest in mortgages at rates consistent with
rates historically achieved; adequate mortgage investment
opportunities are presented to the Corporation; and adequate bank
indebtedness and bank loans are available to the Corporation.
Although the forward-looking information continued in this new
release is based upon what management believes are reasonable
assumptions, there can be no assurance that actual results and
performance will be consistent with these forward-looking
statements. All forward-looking statements in this news release are
qualified by these cautionary statements. Except as required
by applicable law, the Corporation undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise. Firm
Capital Mortgage Investment Corporation CONTACT: Firm Capital
Mortgage Investment CorporationEli DadouchPresident & Chief
Executive Officer(416) 635-0221
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