Firm Capital Mortgage Investment Corporation announces estimated special and regular dividends for December 2021 and dividends for January through March 2022

TORONTO, Dec 16, 2021 (GLOBE NEWSWIRE) – Firm Capital Mortgage Investment Corporation (the “Group“) (TSX: FC) announces that its board of directors has approved and approved its monthly cash dividend on its outstanding common stock for December 2021 of $ 0.078 per share. The company is also making an estimated year-end special cash dividend ( the “Special dividend“) On its outstanding common stock of $ 0.012 per share. These cash dividends, an estimated total of $ 0.09 per share, are payable on or about January 17, 2022 to holders of common stock at the close of business on December 31, 2021.

The exact amount of the special dividend will be confirmed prior to the payment date. The special dividend takes into account that in 2021 (estimated) annual income is expected to exceed the regular monthly dividends paid to holders of common stock. The special dividend is not an indication of the company’s future performance.

The company is also pleased to announce that its board of directors has declared monthly cash dividends of $ 0.078 per share (subject to adjustment at the discretion of the board of directors) payable to holders of common stock on the dates listed below at close of business every day as follows:

Date of recording

Dividend payment date

January 31, 2022

February 15, 2022

February 28, 2022

March 15, 2022

March 31, 2022

April 15, 2022

DIVIDEND OVERVIEW 2021
Regular monthly cash dividends for 2021 were $ 0.078 per month, for a total of $ 0.936 per share, which, along with the estimated special dividend of $ 0.012 at the end of the year, makes a total cash dividend of $ 0.948 per share for 2021 represents.

The company has a dividend reinvestment plan (“DROPS“) And share purchase plan (“To plan“), Which is available to its shareholders. Shareholders are reminded to participate in the company’s dividend reinvestment plan and share purchase plan. Participating shareholders do not pay any commission for common shares issued from their own holdings.

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DIVIDEND INVESTMENT PLAN (DRIP)
The DRIP allows participants to have their monthly cash dividends reinvested in additional common shares of the company. A 3% discount is only granted if the weighted average trading price, calculated during the five trading days immediately preceding each dividend payment day, is greater than $ 14.10.

SHARE PURCHASE PLAN
Upon registration with the DRIP, attendees have the right to purchase additional common shares totaling $ 12,000 per year and no less than $ 250 per month.

For more information, including answers to frequently asked questions about DRIP, please visit our website: www.firmcapital.com and select Firm Capital Mortgage Investment Corporation under the Fund Management heading, which also includes credentials. If you have any questions, please call the company’s Investor Relations at 416-635-0221.

ABOUT THE SOCIETY

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The company is a non-bank lender through its mortgage lender Firm Capital Corporation, providing short-term bridging and conventional real estate financing for residential and commercial real estate, including construction, mezzanine and equity investments. The company’s investment objective is to preserve shareholders’ equity while providing shareholders with a steady stream of monthly dividends from investments. The company achieves its investment objectives by investing in selected niche markets that are not adequately served by large credit institutions. The previous lending activities continue to develop a diversified mortgage portfolio that generates stable returns for shareholders. The company is a Mortgage Investment Corporation (MIC) within the meaning of the Income Tax Act (Canada). Accordingly, the company will not be taxed on income provided its taxable income is paid to its shareholders in dividends within 90 days of December 31 of each year. Such dividends are generally treated as interest income by shareholders so that each shareholder is in the same position as if the mortgage investment made by the company had been made directly by the shareholder. Full reports on the company’s financial results for the year are included in the company’s audited financial statements and related management discussion and analysis, which are available on the SEDAR website at www.sedar.com. Additional information is also available on the company’s website at www.firmcapital.com.

FORWARDING STATEMENTS
This press release contains forward-looking statements within the meaning of applicable securities laws, including but not limited to statements regarding our estimated special dividend, our goals, our strategies for achieving those goals, our performance, our mortgage portfolio and our dividends, and statements regarding the beliefs, estimates and intentions of the Management and similar statements about expected future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking statements can generally be made through the use of forward-looking terminology such as “outlook”, “target”, “may”, “will”, “expect”, “intentionally”, “estimate”, “anticipate”, “believe”, “should” , “Plan” or “continue” or similar expressions indicative of future results or events. Such forward-looking statements reflect the current views of management 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 under “Risk Factors” on our latest annual information form (a copy of which is available at www.sedar.com), which could cause our actual results and performance to differ materially from the forward-looking statements in this circular. These risks and uncertainties include, but are not limited to, risks associated with a public health crisis; The liquidity and volatility of our common stock; Dependence on the manager of the company and the mortgage banker; potential conflicts of interest; Dilution; no guaranteed return; Credit risk; Interest rate risk; Environmental matters related to our business; Availability of investments; Trust in the directors; Lend; limited sources of credit; Risks related to the extension of mortgages that comprise our investment portfolio; Risks related to the composition of our investment portfolio; subordinated and subsequent debt financing; Investment risk for real estate mortgage investments; Dependence on borrowers; Litigation risks; Ability to manage growth; Change of law; Cyber ​​risk; our convertible bonds; and qualification as a mortgage investment company. Readers are cautioned that the above list is not exhaustive. Although the forward-looking information contained in this new press release is based on reasonable assumptions made by management, there can be no guarantee that actual results and performance will correspond to these forward-looking statements.

All forward-looking statements in this press release are restricted by these cautionary statements. Unless required by law, the company assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason.

For more information please contact:
Fixed capital mortgage investment company
Eli Dadouch
President & Chief Executive Officer (416) 635-0221

Boutique Mortgage Loans®

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