Firm Capital Mortgage Investment Corporation Announces Q4 2025 Results And Declares Monthly Cash Dividends For April, May And June 2026

Executive Summary

• Firm Capital Mortgage Investment Corporation reported FY 2025 net income of $37.47 M, a 6.4% increase year‑over‑year, and earnings per share of $1.02, up from $0.996 in 2024.
• The investment portfolio declined to $610.9 M (‑6.5%) with an increased allowance for credit losses and fair‑value adjustments to $36.8 M.
• The board declared a monthly cash dividend of $0.078 per share, continuing the corporation’s stable dividend policy.

Key Details

• Net Income: Q3 2025 – $8.74 M (‑4.7% YoY); FY 2025 – $37.47 M (+6.4% YoY).
• EPS (Basic, Weighted Avg): Q3 2025 – $0.238 vs $0.249 in 2024; FY 2025 – $1.020 vs $0.996 in 2024.
• Investment Portfolio: Decreased 6.5% to $610.9 M (down from $653.8 M). 242 investments held, average gross size ≈ $2.5 M; 13 investments > $7.5 M.
• Portfolio Composition: Conventional first mortgages = 95.2% of portfolio; 85.7% maturing by Dec 2026; average interest rate 9.50% (down from 10.07%). Geographic split – Ontario 89.0%, Quebec 6.5%, Western Canada 1.6%, USA 2.9%.
• New Funding & Repayments: New investment funding $278.0 M (2024: $329.0 M); repayments $320.7 M (2024: $265.3 M).
• Allowance for Expected Credit Losses & Fair‑Value Adjustments: Total $36.8 M (up from $29.6 M), comprising $29.1 M credit loss allowance, $4.5 M fair‑value adjustment, and $3.2 M collective allowance.
• Dividend Declaration: Monthly cash dividend of $0.078 per common share; record dates & payment dates listed for Apr–Jun 2026. FY 2025 total dividends declared $37.47 M ($1.020/share) vs $35.22 M ($0.992/share) in 2024. Shares outstanding 36,738,425 (vs 36,734,405).
• Dividend Reinvestment & Share Purchase Plans: DRIP reinvests at 97% of weighted‑average price (if > $12.50); no commission. Share Purchase Plan allows up to $12,000/yr, minimum $250/mo, also commission‑free.

Notable Quotes

• “The Corporation continues to deliver stable monthly dividends while prudently managing credit risk and portfolio quality,” – Eli Dadouch, President & CEO.