Firm Capital Mortgage Investment Corporation Announces Implementation of 2% Discount for Dividend Reinvestment Plan
November 23 2011 - 6:02PM
PR Newswire (Canada)
TSX Symbol FC TORONTO, Nov. 24, 2011 /CNW/ - Firm Capital Mortgage
Investment Corporation (the "Corporation") , today announced that
it has made changes to its dividend reinvestment plan ("DRIP") that
will allow investors to reinvest dividends paid on the
Corporation's common shares at a 2% discount to the market price of
the common shares on the TSX (calculated in accordance with the
DRIP), provided that the market price is in excess of $10 per
common share. The discount will be in place for the dividend
payable December 15, 2011 and will be automatically applied to
participants' accounts. To subscribe to the DRIP please
contact your financial advisor. The board of directors reserves the
right to adjust or terminate the discount program at any time in
its discretion. 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. Firm
Capital Mortgage Investment Corporation CONTACT: Firm Capital
Mortgage Investment CorporationEli DadouchPresident & Chief
Executive Officer(416) 635-0221
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