TSX Symbol FC.UN
TORONTO, Jan. 8 /CNW/ - Firm Capital Mortgage Investment Trust (the
"Trust") (TSX: FC.UN) confirmed its previously announced special year-end
distribution of $0.17 per unit. The December and special year-end distribution
which total $0.248 per unit, will be payable on January 15, 2009 to
Unitholders of record on December 31, 2008.
The special year-end distribution recognizes that income generated
exceeds year-to-date distributions earned on the Trust's mortgage investments.
Accordingly, as the Trust's Declaration of Trust requires that it distribute
all taxable income earned in its fiscal year, a special year-end distribution
is necessary to meet this requirement for the year ended December 31, 2008.
The Special Distribution is not indicative of future performance.
Total distributions paid to Unitholders in 2008, including the December
and special year-end distributions, will amount to $1.106 per unit.
Unitholders are reminded that they can participate in the Trust's
Distribution Reinvestment Plan and Unit Purchase Plan.
DISTRIBUTION REINVESTMENT PLAN (DRIP)
The plan allows participants to have their monthly cash distributions
reinvested in additional Trust units. The Price paid for units is the weighted
average trading price calculated five trading days immediately preceding each
distribution date with no commission cost.
UNIT PURCHASE PLAN
Once registered with the Plan, participants have the right to purchase
from the Trust additional Units, totalling no greater than $12,000 per year
and no less than $1,000 per month. Unitholders participating pay no
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 Trust. To enrol, please
contact your investment advisor or if you are a registered Unitholder 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 Trust by calling
416-635-0221, who will assist you in enrolling in the program.
ABOUT THE TRUST
The Trust, 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 Trust's investment objective is the preservation of
Unitholders' equity, while providing Unitholders with a stable stream of
monthly distributions from investments. The Trust achieves its investment
objectives by pursuing a strategy of growth 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 Unitholders.
For further information:
For further information: Eli Dadouch, President & Chief Executive
Officer, (416) 635-0221, www.firmcapital.com