Firm Capital Mortgage Investment Corporation Confirmation of Special Year-End Dividend Amount and Declaration of Monthly Cash Dividends

TORONTO, Jan. 07, 2020 (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 $0.07 per common share. The regular December 2019 dividend and the special year-end dividend, totalling $0.148 per common share, are payable on January 15, 2020 to holders of common shares of record at the close of business on December 31, 2019.

The special year-end dividend recognizes that the annual income generated in 2019 exceeded the regular dividends. Accordingly, a special year-end dividend is being made to distribute all of the Corporation’s net income earned in 2019. The special dividend is not indicative of future performance by the Corporation.

Total dividends paid to holders of common shares in 2019, including the December and special year-end dividends, amounted to $1.006 per common share.

The Corporation is also pleased to announce 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		Dividend Payment Date
January 31, 2020		February 18, 2020
February 28, 2020		March 16, 2020
March 31, 2020		April 15, 2020

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 $14.10.

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.