Dividend Payments – T5 Reporting

The Company’s policy is to pay a substantial part of its earnings to its shareholders. The company currently pays a quarterly dividend payable on or about each of March 30, June 30, September 30 and January 2. Additional dividends may be declared by the Company from time to time.

MCAN Mortgage Corporation (“MCAN”) is a Mortgage Investment Corporation (“MIC”), under Section 130.1 of the Income Tax Act (Canada). As such, MCAN can deduct any dividends paid to its shareholders in calculating income for tax purposes. Normally, these dividends are taxed in the shareholders’ hands as interest.

For reporting on T5 slips, interest dividends from a MIC are recorded in Box 13. In addition, a MIC may from time to time pay dividends in respect of capital gains that it has earned. These are taxed as capital gains from the disposition of capital property. For reporting on T5 slips, capital gain dividends from a MIC are recorded in Box 18.

Please Note: For non-resident shareholders, dividend income may be subject to withholding tax.  For further information, please discuss with your investment advisor. 

Since 2012, the following dividends have been paid:

Payment DateRecord DateInterest Dividend
(Box 13)
Capital Gain
Dividend (Box 18)
Jan 3, 2017Dec 15, 2016$0.30
Mar 30, 2017Mar 15, 2017$0.30
Jun 30, 2017Jun 15, 2017$0.32
Sep 29, 2017Sep 15, 2017$0.32
TOTAL$1.24
Jan 4, 2016Dec 15, 2015$0.29
Mar 31, 2016Mar 15, 2016$0.29
June 30, 2016June 15, 2016$0.29
Sept 30, 2016Sept 15, 2016$0.29
TOTAL$1.16
Jan 2, 2015Dec 15, 2014$0.28
March 31, 2015March 16, 2015$0.28
June 30, 2015June 15, 2015$0.28
Sept 30, 2015Sept 15, 2015$0.28
TOTAL$1.12
Jan 2, 2014Dec 16, 2013$0.28
March 31, 2014March 17, 2014$0.28
June 30, 2014June 16, 2014$0.28
Sept 30, 2014Sept 16, 2014$0.28
TOTAL$1.12
Jan 2, 2013Dec 17, 2012$0.28
Mar 28, 2013Mar 15, 2013$0.31
June 28, 2013June 14, 2013$0.28
Sept 30, 2013Sept 16, 2013$0.28
TOTAL$1.15
Jan 3, 2012Dec 2, 2011$0.27
Mar 30, 2012Mar 15, 2012$0.55$0.05
June 29, 2012June 15, 2012$0.27
Sept 28, 2012Sept 14, 2012$0.27
TOTAL$1.36$0.05