BELIEVE IN HRU
We currently pay dividends of $0.07083 per Preferred Share Class B every month and an average annual rate of $0.8500. The record date is the last business day of every month, and the dividend is paid on the 15th of one and a half months following. If you own shares on the record date, you will receive the dividend. We have an uninterrupted record of paying dividends since inception, our dividend record is shown below.
When we issue our financial results in May each year, we also declare an annual bonus so that all earnings during the previous year ending December 31 are paid out to our shareholders.
Under Section 130.1 of the Income Tax Act, taxable dividends paid to shareholders (other than capital gains dividends) are taxed as interest income. As a Mortgage Investment Corporation, we do not pay any income taxes, provided that we distribute all of our taxable income each year (and meet other requirements). In effect, we flow interest income that we earn on our investments in mortgages through to our shareholders.
Shareholders are also open to join our Dividend Re-Investment Plan ("DRIP"). Through the DRIP, your monthly and special dividends are automatically reinvested in additional shares of HRU MIC at the full share price; and of course, there is no commission.
To join the DRIP, please contact our investment advisor. If your shares are registered, please contact Olympia Trust Company, by calling (403)-770-0001.
If you have any questions regarding your Dividend Re-Investment Plan, please email or call (647) 360-8996.