- December 2021 Dividend of $0.09 per share
- 2021 total estimated dividend of $0.948 per share
TORONTO, December 16, 2021 (GLOBE NEWSWIRE) – Capital Real Estate Investment Corporation (“the”Establishment(TSX: FC) announces that its Board of Directors has declared and approved a monthly cash dividend on its outstanding common stock for the month of December 2021 of $0.078 per share. The Corporation is also declaring a special discretionary cash dividend at the end of the year (“)special dividends”) on its outstanding common stock of $0.012 per share. These dividends, totaling $0.09 per share, are paid on or about January 17, 2022, to stockholders of record when the business is closed on December 31, 2021.
The exact amount of your return will be confirmed before the payment date. The special dividend recognizes that annual (estimated) income generated in 2021 is expected to exceed the monthly ordinary dividend paid to common stock holders. A special dividend is not an indication of the future performance of an enterprise.
The Company is also pleased to announce that its Board of Directors has declared a monthly cash dividend of $0.078 per share (subject to adjustment at the discretion of the Board of Directors) payable on the dates set out below to holders of common stock registered at the close of business on each date as follows:
|date of registration||Dividend date|
|Jan 31 2022||February 15 2022|
|February 28, 2022||March 15, 2022|
|March 31, 2022||April 15, 2022|
Overview of Distributions 2021
Our 2021 regular monthly cash dividend is $0.078 per month, totaling $0.936 per share, which, together with our estimated year-end special dividend of $0.012, represents our total 2021 cash dividend of $0.948. per share.
The corporation has a dividend reinvestment plan (“drip“) and share the purchase plan (“Plan”) available to its shareholders. Shareholders are reminded that they can participate in the company’s dividend reinvestment plan and stock purchase plan. Participating shareholders do not pay any commission on common shares issued by the treasury.
Dividend Reinvestment Plan (Drip)
DRIP allows participants to reinvest their monthly cash earnings into additional common stock of the company. A 3% discount will only apply if the weighted average trading price, calculated for the five trading days immediately preceding the dividend payment date, is above $14.10.
stock purchase plan
Once registered with DRIP, participants are entitled to purchase additional common shares, totaling no more than $12,000 per year and no less than $250 per month.
For more information, including answers to frequently asked questions about DRIP, please refer to our website: www.firmcapital.com, and select Firm Capital Mortgage Investment Corporation under Capital Management, which also includes registration information. If you have any questions, please contact the Foundation’s Investor Relations by calling 416-635-0221.
Where to get mortgage deals®
The Corporation, through its mortgage bank, Firm Capital Corporation, is a non-bank lender that provides a bridge to residential and commercial short-term and conventional real estate financing, including construction, mezzanine and equity investments. The corporation’s investment objective is to preserve shareholder equity, while providing shareholders with a steady stream of monthly earnings from investments. The Corporation achieves its investment objectives by investing in selected niche markets that are not served by large lending institutions. The lending activities to date continue to develop a diversified mortgage portfolio, resulting in a stable return for shareholders. The Corporation is the Mortgage Investment Corporation (MIC) as defined in Income Tax Law (Canada). Accordingly, the corporation is not subject to income tax provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 of each year. These dividends are generally treated by the shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the company were made directly by the shareholder. Full reporting of the Corporation’s financial results for the year is set out in the Corporation’s audited financial statements and related management discussions and analysis, available on the SEDAR website at www.sedar.com. Additionally, supplemental information is available on the company’s website at www.firmcapital.com.
This news release contains forward-looking statements within the meaning of applicable securities laws, including, among other things, statements regarding our own estimated earnings, our objectives, our strategies for achieving those goals, our performance, our mortgage portfolio, and our earnings, as well as Statements about management’s beliefs, estimates, and intentions, and similar statements about expected future events, results, conditions, performance, or expectations that are not historical facts. Forward-looking statements may generally be identified by the use of forward-looking terms such as “expects,” “objective,” “may,” “will,” “expect,” “intend,” “estimate,” “expect,” “believe,” or “should.” or “plans,” “continues,” or similar expressions that refer to future results or events. These 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 most recent annual information form under “Risk Factors” (a copy of which can be obtained at www. Sedar.com), which may cause Our actual results and performance may differ materially from the forward-looking statements made in this circular. These risks and uncertainties include, among others, risks associated with a public health crisis; liquidity and volatility of our common stock prices; Reliance on the director of the institution and mortgage bankers; potential conflict of interest; mitigation; No return guaranteed credit risk; interest rate risk; environmental issues associated with our business; availability of investments; dependence on managers; Borrowing limited sources of borrowing; risks related to the renewal of mortgages that include our investment portfolio; risks related to the formation of our investment portfolio; financing of subordinated and ex-debt debts; investment risk for mortgage investments; reliance on borrowers; Litigation risk The ability to manage growth. Change in Legislation Internet Risks Our Convertible Bonds; Qualifications as a mortgage investment company. Readers are cautioned that the foregoing list is not exhaustive. Although the continuing forward-looking information in this new release is based on what management believes are reasonable assumptions, there can be no guarantee that actual results and performance will be consistent with these forward-looking statements.
All forward-looking statements contained in this press release are limited by these cautionary statements. Except as required by applicable law, the Company undertakes 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 Capital Real Estate Investment Company
President and CEO (416) 635-0221
Mortgage Lenders® boutique