irm
Firm Capital Mortgage Investment Corporation
Firm Capital Mortgage Investment Corporation
Company Overview
Firm Capital Mortgage Investment Corporation (“FCMIC”, “The Company”), through its Mortgage Banker, Firm Capital Corporation, is an investor providing residential and commercial real estate financing.
FCMIC investment objective is the “Preservation of Shareholders’ Capital”, while providing share – holders with a stable stream of monthly dividends from the Company’s investments. The Company achieves its investment objectives by pursuing a
strategy of growth through investments in selected niche markets that are under-serviced by large lending institutions. FCC, exclusively as the Company’s Mortgage Banker, provides loan origination, under – writing, loan servicing and syndication services.
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Investment Overview
Mortgage Portfolio Highlights
Financial Reports
Trading Volume
Dividend Summary
Analyst Coverage
DRIP
Management Team
Press Releases
Operating Strategy
- Notice of Annual and Special Meeting of Shareholders and Management Information Circular
- RSVP to listen live through an audio conference to the 25th Anniversary Annual and Special Meeting of Shareholders – Monday, June 10, 2024 at 12:30 PM – 1:30 PM (ET)
- June 10 25th Anniversary Annual and Special Meeting of Shareholders Presentation
- DRIP
- DRIP – Frequently Asked Questions
- Q3 2024 Investor Presentation
- October 2024 Investor Fact Sheet
- Attractive and Stable Monthly Cash Dividends
- TTM Yield* of 8.76% per annum (based on share price @October 31, 2024)
- Experienced Board and Management Team
- Conservative Operating Strategy
*Regular monthly cash dividends for 2023 equaled $0.078 per month, for a total $0.936 per share, which, together with the year-end Special Dividend of $0.054, represents total cash dividends for 2023 of $0.990 per share.
| October 31 , 2024 | |
|---|---|
| Total Advanced Mortgage Portfolio | $620,232,741 |
| Number of Investments | 284 |
| Average Portfolio Interest Rate | 10.11% |
| Percentage of Portfolio which are First Mortgages | 90% |
| Percentage of Portfolio with Floating Interest Rates | 91% |
| Percentage of Portfolio maturing within the next 12 months | 92.7% |
| September 30, 2024 (Q3) | |
|---|---|
| Comprehensive Income and Profit for the Quarter | $8,960,532 |
| Net Earnings Per Share for the Quarter | $0.250 |
| Dividends Per Share for the Quarter | $0.468 |
| Annual Return on Weighted Average Shareholder’s Equity | 8.97% |
| Debt as a percentage of Mortgage Investments | 31% |
- Q3 2024 Report
- Q2 2024 Report
- Q1 2024 Report
- Q4 2023 Report
- Q3 2023 Report
- Q2 2023 Report
- Q1 2023 Report
- Q4 2022 Report
- Q3 2022 Report
- Q2 2022 Report
- Q1 2022 Report
- Annual 2021 Report
- Q3 2021 Report
- Q2 2021 Report
- Q1 2021 Report
- Annual 2020 Report
- Q4 2020 Report
- Q3 2020 Report
- Q2 2020 Report
- Q1 2020 Report
- Annual 2019 Report
- Q4 2019 Report
- Q3 2019 Report
- Q2 2019 Report
- Q1 2019 Report
| Month | Volume |
|---|---|
| October 2024 | 1,544,410 |
| September 2024 | 1,370,623 |
| August 2024 | 1,541,879 |
| July 2024 | 656,757 |
| June 2024 | 467,979 |
| May 2024 | 575,841 |
| April 2024 | 518,836 |
| March 2024 | 417,559 |
| February 2024 | 445,500 |
| January 2024 | 553,100 |
| December 2023 | 719,690 |
| November 2023 | 673,330 |
| October 2023 | 653,986 |
| September 2023 | 1,448,336 |
| August 2023 | 341,086 |
| July 2023 | 623,925 |
| June 2023 | 446,528 |
| May 2023 | 406,792 |
| April 2023 | 470,255 |
| March 2023 | 637,206 |
| February 2023 | 433,598 |
| January 2023 | 756,543 |
| December 2022 | 1,087,134 |
| November 2022 | 489,739 |
| October 2022 | 545,626 |
| September 2022 | 435,349 |
| August 2022 | 573,600 |
| July 2022 | 543,983 |
| June 2022 | 944,639 |
| May 2022 | 990,397 |
| April 2022 | 990,643 |
| March 2022 | 1,204,731 |
| February 2022 | 889,390 |
| January 2022 | 963,526 |
Please visit TMX for historical trading information.
Monthly Dividend History (1,2,3)
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| January | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 |
| February | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 |
| March | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 |
| April | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 |
| May | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 |
| June | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 |
| July | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 |
| August | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 |
| September | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 |
| October | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 |
| November | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 |
| December | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | $0.078 | |
| Total | $0.858 | $0.990 | $0.950 | $0.948 | $0.944 | $1.006 | $0.986 | $1.006 | $0.966 | $0.991 | $0.970 | $0.984 |
1. Dividends include dividends that have been declared and not paid.
2. Dividends are treated as Interest Income for income tax purposes under the Canadian Income Tax Act.
*Includes future dividends that have been declared but not yet paid to Shareholders
Firm Capital Mortgage Investment Corporation is covered by the following analysts:
| Analyst | Brokerage | |
|---|---|---|
| Sam Damiani | TD Securities | sam.damiani@tdsecurities.com |
* Disclaimer: Any opinions, estimates or forecasts regarding Firm Capital Mortgage Investment Corporation’s performance and any other information regarding Firm Capital included in the above research reports do not represent the opinions, estimates, forecasts, beliefs or views of Firm Capital or its management. Firm Capital does not, by its posting of the research reports published or otherwise, imply any endorsement of or concurrence with any information, conclusion or recommendations included in such reports or of the analysts who authored such reports.
Firm Capital Mortgage Investment Corporation offers its registered shareholders the opportunity to participate in its Shareholder Dividend Reinvestment Plan (the “DRIP”) and Share Purchase Plan. The DRIP allows participants to have their monthly cash dividends reinvested in additional shares of Firm Capital Mortgage Investment Corporation. Furthermore, Shareholders registered in the plan will receive a right to purchase, at market, additional shares provided that such investment is limited to $12,000.00 per year and purchases per month of not less than $250.00.
For more information on the Shareholder Dividend Reinvestment Plan and Share Purchase Plan, please read the PDF files posted below. If you would like to participate in the plan, please click here or return your completed Enrolment Form to your investment advisor, or to the attention of:
Computershare Trust Company of Canada
100 University Avenue, 9th floor
Toronto, Ontario M5J 2Y1
E-mail: caregistry@computershare.com
Website: www.computershare.com
Telephone: 416-981-9633 or 1-800-564-6253
Telecopier: 416-981-9633
If you need further assistance, please contact Victoria Granovski at (416) 635-0221 or vgranovski@firmcapital.com
Our management team consists of dedicated professionals with extensive backgrounds in real estate lending as well as investment banking, investment management, accounting and law.
Stay up-to-date with the latest news on Firm Capital Mortgage Investment Corporation. View all our announcements and press releases including information about our services and financials.
- Principal Philosophy – Preservation of Shareholders’ Capital
- Disciplined Investing
- Earn and distribute to Shareholders an amount that represents a return on Shareholders’ equity in excess of 400 basis points above Government of Canada One Year Bond Yields
- Invest in niche markets that lack competition
- Prudent level of debt matched by a short term portfolio
- Diversified portfolio of predominantly first mortgages
- Stringent policy towards risk management, including: prudent underwriting practices, reduced exposure through loan syndication, and strong default management policies
- Experienced Management and Board of Directors within the real estate lending marketplace
Information Request
Victoria Granovski
163 Cartwright Avenue
Toronto, Ontario M6A 1V5
Tel: (416) 635-0221
Email: fcmic@firmcapital.com
(416) 635-0221
