Monthly Dividend Update from Firm Capital Mortgage Investment Corp
Monthly Dividend Announcement
Firm Capital Mortgage Investment Corporation (TSX: FC) proudly announces its upcoming cash dividend of $0.078 per share. This dividend is payable to shareholders who are on record, marking an important event in the calendar for those investing in this innovative company.
Important Dates for Shareholders
Shareholders should note the key dates associated with the dividend payments:
1. Record Date: April 30, followed by a payment on May 15.
2. Record Date: May 30, with payment scheduled for June 16.
3. Record Date: June 30, and payment will be made on July 15.
Dividend Reinvestment Plan (DRIP) and Share Purchase Options
The Firm Capital team has established a comprehensive Dividend Reinvestment Plan (DRIP) to provide options for shareholders to reinvest their dividends into additional shares of the corporation. This plan is designed to support long-term growth for shareholders and eliminate any commission costs for reinvestments.
The shares purchased through this plan are offered at 97% of the weighted average trading price over the five trading days prior to each dividend date, provided that the share price exceeds $12.50. Furthermore, participants of the Share Purchase Plan can acquire additional shares valued at up to $12,000 annually, with a minimum investment of $250 monthly.
Understanding Firm Capital's Business Model
Firm Capital Mortgage Investment Corporation operates through its mortgage banking arm and distinguishes itself as a non-bank lender focused on both residential and commercial real estate financing. The corporation offers short-term bridge loans, conventional financing, construction finance options, mezzanine financing, and equity investments.
Its primary objective revolves around preserving shareholders' equity while delivering a consistent stream of monthly dividends through strategic investments. By focusing on niche markets often overlooked by larger lending institutions, the corporation has developed a diversified mortgage portfolio that aims to yield stable returns for shareholders.
Tax Advantages and Shareholder Benefits
This corporation enjoys a favorable tax status as a Mortgage Investment Corporation (MIC) under Canadian law. To maintain this status, it ensures that its taxable income is distributed to shareholders as dividends within 90 days after the year-end. This operational structure allows dividends to typically be classified as interest income, positioning shareholders similarly to if they had directly invested in the mortgage assets.
Accessing Financial Reports and Supplementary Information
Investors can access comprehensive financial reports, including audited statements and management discussion analyses, via SEDAR, which provides transparent insights into the corporation's financial health and operational strategies. For additional information, shareholders are encouraged to visit the corporation’s official website, where they can find further resources and updates.
Contact Information
For more information regarding Firm Capital Mortgage Investment Corporation, individuals can contact:
Firm Capital Mortgage Investment Corporation
Eli Dadouch
President & Chief Executive Officer
(416) 635-0221
Frequently Asked Questions
What is the amount of the monthly dividend announced?
The announced monthly cash dividend is $0.078 per share.
When are the dividend payments scheduled?
Dividend payments are scheduled for May 15, June 16, and July 15.
What is the Dividend Reinvestment Plan?
The DRIP allows shareholders to reinvest their dividends into additional shares at a discounted price, without incurring commissions.
How does Firm Capital generate revenue?
Firm Capital primarily generates revenue through various types of real estate financing and mortgage lending.
What is unique about Firm Capital’s business model?
Firm Capital focuses on underserved niche markets in the lending industry, aiming to provide stable returns and equity preservation for its shareholders.
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