TORONTO, April 8, 2016 /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
|
April 30,
2016
|
May 16,
2016
|
May 31,
2016
|
June 15,
2016
|
June 30,
2016
|
July 15,
2016
|
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. 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.
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SOURCE Firm Capital Mortgage Investment Corporation