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

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

The precise amount of the Special Dividend will be confirmed before the payment date. The special dividend recognizes that the (estimated) annual income generated in 2021 is expected to exceed the regular monthly dividends paid to holders of common shares. The special dividend is not indicative of the future performance of the company.

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 on the dates indicated below to holders. common shares listed at the close of business on each date as follows:

Registration Date

Dividend payment date

January 31, 2022

February 15, 2022

February 28, 2022

March 15, 2022

March 31, 2022

April 15, 2022

2021 DIVIDENDS OVERVIEW
The regular monthly cash dividend for 2021 was $ 0.078 per month, for a total of $ 0.936 per share, which together with the estimated year-end special dividend of $ 0.012 represents total cash dividends for 2021 of $ 0.948 per share.

The Company has implemented a dividend reinvestment plan (“DROP“) and the share purchase plan (“Plan“) which is available to its shareholders. Shareholders are reminded that they may participate in the dividend reinvestment plan and the stock purchase plan of the company. Participating shareholders pay no commission for the shares ordinary issued cash.

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

SHARE PURCHASE PLAN
Once enrolled in the DRIP, participants have the right to purchase additional common shares, totaling not more than $ 12,000 per year and at least $ 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 Capital Management, which also includes information from registration. If you have any questions, please contact the Company’s Investor Relations at 416 635-0221.

ABOUT THE COMPANY

Where do mortgage transactions take place®

The Company, through its mortgage banker, Firm Capital Corporation, is a non-bank lender providing short-term residential and commercial bridge finance and conventional real estate finance, including construction, mezzanine and equity investments. The Company’s investment objective is to preserve shareholders’ equity, while providing shareholders with a stable flow of monthly dividends from investments. The Company achieves its investment objectives by investing in selected niche markets which are underserved by large credit institutions. The lending business to date continues to develop a diversified mortgage portfolio, producing a stable return for shareholders. The Company is a Mortgage Investment Company (MIS) as defined in the Income Tax Act (Canada). Therefore, the Company is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days of December 31 of 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 Company’s financial results for the year are set out in the Company’s audited financial statements and related MD&A, available on the SEDAR website at www.sedar.com. In addition, additional information is available on the Company’s website at www.firmcapital.com.

FORWARD-LOOKING 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 objectives, our strategies to achieve those objectives, our performance, our mortgage portfolio and our dividends, as well as statements regarding the beliefs, estimates and intentions of management, and similar statements regarding anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking statements can generally be identified by the use of forward-looking terms such as “outlook”, “objective”, “may”, “will”, “expect”, “intention”, “estimate”, ” anticipate ”,“ believe ”,“ should ”,“ plan ”or“ continue ”or similar expressions suggesting future results or events. These forward-looking statements reflect the current beliefs 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 which are subject to risks and uncertainties, including those described in our most recent annual information form under “Risk Factors” (a copy of which may 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. These risks and uncertainties include, among others, the risks associated with the public health crisis; the liquidity and price fluctuations of our common shares; 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 issues associated with our business; availability of investments; dependence on directors; borrowing; limited sources of borrowing; the risks associated with the renewal of the mortgages comprising 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; the risk of litigation; ability to manage growth; change in legislation; cyber risk; our convertible debentures; and qualification as a mortgage investment company. Readers are cautioned that the foregoing list is not exhaustive. Although the forward-looking information contained in this new press release is based on what management considers reasonable assumptions, there can be no assurance that actual results and performance will be consistent with these forward-looking statements.

All forward-looking statements contained in this press release are qualified by these cautionary statements. Except as required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

For more information, please contact:
Firm Mortgage Investment Company
Eli Dadouch
President and Chief Executive Officer (416) 635-0221

Boutique® Mortgage Lenders

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