Firm Capital Mortgage Investment Corporation announces monthly cash dividends

TORONTO, Oct. 12, 2016 /CNW/ - Firm Capital Mortgage Investment Corporation ("MIC") (TSX: FC), announces 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:

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. The Corporation is a Mortgage Investment Corporation (MIC) as defined in the Income Tax Act (Canada). Accordingly, The Corporation is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 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 financial results of the Corporation for the year are outlined in the audited financial statements and the related management discussion and analysis of Corporation, available on the SEDAR website at www.sedar.com.  In addition, supplemental information is available on Corporation's website at www.firmcapital.com.

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SOURCE Firm Capital Mortgage Investment Corporation