TORONTO, July 18, 2017 /CNW/ - Firm Capital Mortgage
Investment Corporation ("MIC") (TSX: FC), announces:
Receipt of Special Income
The $2,737,500 of Special Income accrued and reported
in the first quarter of 2017, on one of the Corporation's
non-conventional mortgage investments, has now been fully received
by the Corporation.
Monthly Dividend
Monthly cash dividend of $0.078 per share payable to shareholders of
record as follows:
|
Record
Date
|
Dividend
Payable
|
|
July 31,
2017
|
August 15,
2017
|
|
August 31,
2017
|
September 15,
2017
|
|
September 30,
2017
|
October 16,
2017
|
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
