How Investing in a Mortgage Investment Corporation or MIC Works
Investors can purchase shares in Nation Capital at anytime. Each investor is entitled to an appropriate number of preferred shares based on the size of their investment (1 preferred share for every $1 invested). For all new share purchasers, a minimum investment of $25,000 is required by Nation Capital.
Quarterly income will be distributed among investors. Investors can choose to take dividends in cash or reinvest them on a quarterly basis. For example: $100,000 investment with dividend rate at 8%, investor can take $8,000 in cash, or reinvest to subscribe for 8,000 more preferred shares.
To be a tax–exempt Mortgage Investment Corporation, 100% of Nation Capital net profits are distributed to investors according to their share holdings in the company.
The Income Tax Act requires that 100% of a MIC’s annual net income, as verified by external audit, be distributed to its shareholders. Nation Capital’s financial statements are audited by an independent accounting firm and made available to all shareholders. An annual general meeting will be held by the directors and the accounting firm to answer any questions that investors may have.