TSX Symbol FC
TORONTO, Jan. 6, 2017 /CNW/ - Firm Capital Mortgage
Investment Corporation (the "Corporation") (TSX: FC) confirms the
previously announced special year-end dividend of $0.03 per share. The December and special
year-end dividend, that total $0.108
per share, will be payable on January 16,
2017 to Shareholders of record on December 31, 2016.
The special year-end dividend recognizes that the annual income
generated in 2016 exceeded regular dividends. Accordingly, a
special year-end dividend is being made to distribute all of the
Corporation's net income earned in 2016. The special dividend is
not indicative of future performance by the Corporation.
Total dividends paid to Shareholders in 2016, including the
December and special year-end dividends, amount to $0.966 per share.
The Corporation announced its monthly cash dividend of
$0.078 per share (subject to
adjustment in the discretion of the board of directors) payable to
shareholders of record as follows:
|
Record
Date
|
Dividend
Payable
|
|
January 31,
2017
|
February 15,
2017
|
|
February 28,
2017
|
March 15,
2017
|
|
March 31,
2017
|
April 17,
2017
|
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 97% (if the share
price is higher than $12.95) 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, which also includes enrollment information.
If you have any questions, please contact Investor Relations at the
Corporation by calling 416-635-0221.
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. 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, Shareholder
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.
Boutique Mortgage Lenders®
SOURCE Firm Capital Mortgage Investment Corporation
