TSX Symbol FC
TORONTO, Jan. 8, 2015 /CNW/ - Firm Capital Mortgage
Investment Corporation (the "Corporation") (TSX: FC) confirms the
previously announced special year-end dividend of $0.034 per share. The December and special
year-end dividend, that total $0.112
per share, will be payable on January 15,
2015 to Shareholders of record on December 31, 2014.
The special year-end dividend recognizes that the annual income
generated in 2014 exceeded regular dividends. Accordingly, a
special year-end dividend is necessary to distribute all of the
Corporation's income earned in 2014. The special dividend is not
indicative of future performance by the Corporation.
Total dividends paid to Shareholders in 2014, including the
December and special year-end dividends, amount to $0.970 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.
SOURCE Firm Capital Mortgage Investment Corporation