TORONTO, Oct. 23, 2015 /CNW/ - Mortgage Company of Canada Inc. ("MCC") announced that on October 15, 2015, it paid a dividend of $0.075 per share for the month of September 2015, representing $0.90 per share on an annualized basis. The payment, which is equal to a 9.0% return on an annualized basis, marks the 23rd consecutive monthly dividend paid by MCC.
"We are very pleased to declare another monthly dividend for shareholders," said Raj Babber, President and Chief Executive Officer of MCC. "Our record of consistent, reliable dividend payments reflects the stability of our portfolio and underpins our mission of generating superior risk-adjusted returns for shareholders."
About Mortgage Company of Canada Inc.
MCC is a Toronto-based mortgage investment company that primarily invests in single family residential mortgages in the Greater Toronto Area. MCC's objective is to target a minimum annual yield of 9.0% by providing its shareholders with stable monthly dividends while preserving shareholders' capital by lending within conservative risk parameters.
Mortgage Company of Canada Inc. is a Mortgage Investment Corporation as defined in the Income Tax Act (Canada).
This press release may contain "forward looking information" that is based on expectations, estimates and projections as of the date hereof. Such information involves risks and other factors that may cause actual results to be material different.
For further information on the Mortgage Company of Canada, please visit www.mcoci.com.
SOURCE Mortgage Company of Canada Inc.
For further information: Raj Babber, President & Chief Executive Officer, Mortgage Company of Canada Inc., (866) 318-7222 ext. 222; Greg Goutis, Chief Financial Officer, Mortgage Company of Canada Inc., (866) 318-7222 ext. 231