TSX Symbol FC
TORONTO, Jan. 9, 2014 /CNW/ - Firm Capital Mortgage Investment
Corporation (the "Corporation") (TSX: FC) confirms the previously
announced special year-end dividend of $0.048 per share. The December
and special year-end dividend, that total $0.126 per share, will be
payable on January 15, 2014 to Shareholders of record on December 31,
2013.
The special year-end dividend recognizes that the annual income
generated in 2013 exceeded regular dividends. Accordingly, a special
year-end dividend is necessary to distribute all of the Corporation's
income earned in 2013. The Special Dividend is not indicative of future
performance by the Corporation.
Total dividends paid to Shareholders in 2013, including the December and
special year-end dividends, will amount to $0.984 per share.
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 98% 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.
To enrol, please contact your investment advisor or if you are a
registered Shareholder complete the Authorization Form located on our
website and forward to our transfer Agent, Computershare Trust Company
of Canada, at the address noted on the web site. You can also contact
Investor Relations at the Corporation by calling 416-635-0221, who will
assist you in enrolling in the program.
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.
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,
Shareholdertholder 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.
SOURCE Firm Capital Mortgage Investment Corporation
