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Gold/Mining/Energy : Canadian stocks that pay DIVIDENDS!!!!
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To: C who wrote ()10/31/1997 9:31:00 PM
From: kingfisher  Read Replies (2) of 129
 
MTC Mortgage Investment Corporation -

9% yield reported

MTC Mortgage Investment Corporation MTOShares issued 38550031997-10-30 close $8.05Friday Oct 31 1997Ms Catherine Bruce reports Third quarter earnings were $722,000 or $0.187 per share, a 6.9% increase from the same period last year. Under the current management contract, management fees (which are capped at 1% per annum of the book value of invested assets) are payable only subsequent to the achievement of a target return on book value to shareholders. The company continues to meet its 1997 target return of 8% on book value. As at September 30 1997, total assets of the company were $195MM, up 3.7% from the second quarter assets of $188MM. The company has been able to grow the portfolio as better yields were available in the marketplace from time to time during the quarter. The portfolio continues to perform well, with non-performing loans representing 0.56% of the total portfolio. A fourth quarter dividend of $0.18 per share has been declared for payment December 31 1997 to shareholders of record December 17 1997. This represents an income return of 9.1% per annum, based on the September 30 market value of $7.95. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

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