TSX Symbol FC.UN
TORONTO, Dec. 18 /CNW/ - Firm Capital Mortgage Investment Trust (the "Trust") (TSX: FC.UN) announced its year end distribution in the amount of $0.142 per unit, payable on December 29, 2006 to Unitholders of record on December 29, 2006. The distribution includes the regular $0.076 monthly distribution for December 2006 and an extra $0.066 per unit, consisting of excess income over the year's distributions earned on the Trust's mortgage investments. Distributions to Unitholders for the 2006 year totalled $0.969 per unit, an increase from $0.935 last year.
The Trust has in place a Distribution Reinvestment Plan (DRIP) and Unit Purchase Plan that is available to its Unitholders. The plans allows participants to have their monthly cash distributions reinvested in additional Trust units and grants participants the right to purchase additional units.
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 mezzanine & 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.