TORONTO, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Firm Capital Mortgage Investment Corporation (the "Corporation") (TSX: FC) is pleased to confirm that its board of directors has formally declared the previously announced special year-end dividend of $0.012 per common share. The regular December 2021 dividend and the special year-end dividend, totalling $0.09 per common share, are payable on January 17, 2022 to holders of common shares of record at the close of business on December 31, 2021.
The special year-end dividend recognizes that the annual income generated in 2021 exceeded the regular dividends. Accordingly, a special year-end dividend is being made to distribute all of the Corporation’s net income earned in 2021. The special dividend is not indicative of future performance by the Corporation.
Total dividends paid to holders of common shares in 2021, including the December and special year-end dividends, amounted to $0.948 per common share.
On December 16, 2021, the Corporation announced that its board of directors has declared monthly cash dividends of $0.078 per common share (subject to adjustment in the discretion of the board of directors) payable on such dates as are set out below to holders of common shares of record at the close of business on each date as follows:
Record Date
January 31, 2021
February 28, 2021
March 31, 2021 | Dividend Payment Date
February 15, 2021
March 15, 2021
April 15, 2021 |
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The Corporation has in place a Dividend Reinvestment Plan (“DRIP”) and Share Purchase Plan (“Plan”) that is available to its shareholders. Shareholders are reminded that they can participate in the Corporation’s Dividend Reinvestment Plan and Share Purchase Plan. Participant shareholders pay no commission for common shares issued from treasury.
DIVIDEND REINVESTMENT PLAN (DRIP)
The DRIP allows participants to have their monthly cash dividends reinvested in additional common shares of the Corporation. A 3% discount will only apply if the weighted average trading price, calculated during the five trading days immediately preceding each dividend payment date, is higher than $14.85.
SHARE PURCHASE PLAN
Once registered with the DRIP, participants have the right to purchase additional common shares, totaling no greater than $12,000 per year and no less than $250 per month.
For further information, including answers to frequently asked questions about the DRIP, please refer to our website: www.firmcapital.com, and select Firm Capital Mortgage Investment Corporation under the heading Fund Management, which also includes enrollment information. If you have any questions, please contact Investor Relations at the Corporation by calling 416-635-0221.
https://www.globenewswire.com/news-release/2022/01/10/2364355/0/en/Firm-Capital-Mortgage-Investment-Corporation-Announces-Confirmation-of-Special-Year-End-Dividend-Amount.html