Firm Capital Mortgage Investment Corporation announces Q4/2013 results

About this update from Firm Capital Mortgage Investment Corporation

[{"type":"text","content":"\n\n\nTSX Symbol FC\n\n\nTORONTO, March 21, 2014 /CNW/ - Firm Capital Mortgage Investment\n Corporation (the \"Corporation\") (TSX FC) today released its financial\n statements for the three and twelve months ended December 31, 2013.\n\n\nPROFIT & RETURN ON EQUITY\nProfit for the fourth quarter ended December 31, 2013 increased by 8% to\n $4,405,596 as compared to $4,071,325 for the same period last year. \n For the year ended December 31, 2013, profit increased by 5% to\n $17,607,877 as compared to $16,755,292 for the year ended December 31,\n 2012.  Basic weighted average profit per share for the fourth quarter\n ended December 31, 2013 was $0.237, which is lower in comparison to the\n $0.243 reported for the fourth quarter ended December 31, 2012. Basic\n weighted average profit per share for the year ended December 31, 2013\n of $0.987 was slightly lower in comparison to the $0.999 for the year\n ended December 31, 2012. The Corporation distributed 100% of its\n profits for 2013.\n\n\nProfit for the year ended December 31, 2013 represented an annualized\n return on shareholders' equity (based on the month end average\n shareholders' equity) of 9.63% versus a previously reported return on\n shareholders' equity of 9.83% for the year ended December 31, 2012.\n This return on shareholders' equity represents 864 basis points per\n annum over the average Government of Canada One Year Treasury Bill\n yield for the year of 0.99%, and is well in excess of the Corporation's\n stated target yield objective of 400 basis points per annum over the\n average one year treasury bill yield.\n\n\nDIVIDEND OVERVIEW\nFor the fourth quarter ended December 31, 2013, the Corporation declared\n dividends totaling $5,111,513 or $0.282 per share versus $5,007,886 or\n $0.288 per share for the fourth quarter ended December 31, 2012. The\n fourth quarter 2013 dividend comprised of regular dividends of $0.234\n per share and the year-end special dividend of $0.048 per share. For\n the year ended December 31, 2013, the Corporation declared dividends\n totaling $17,607,877 or $0.984 per share versus $16,755,292 or $0.990\n per share for the year ended December 31, 2012.\n\n\nINVESTMENT PORTFOLIO HIGHLIGHTS\nDetails on the Corporation's investment portfolio as at December 31,\n 2013 are as follows:\n\n\n\nTotal gross investment portfolio of $...

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