Builders Capital Mortgage Corp. Files First Full Quarterly Report
June 16 2014 - 6:04PM
Marketwired
Builders Capital Mortgage Corp. Files First Full Quarterly Report
CALGARY, ALBERTA--(Marketwired - Jun 16, 2014) - Builders
Capital Mortgage Corp. (TSX-VENTURE:BCF) (Builders Capital or the
company) has filed a full quarterly report for the three months
ended March 31, 2014, the company's first full quarter of operation
and the first quarter of its 2014 fiscal year. The filing of the
report follows Builders Capital's release of financial results for
the period on May 30, 2013. Copies of the report are available for
download at the company's website (www.builderscapital.ca) and
SEDAR (www.sedar.com).
About Builders Capital
Builders Capital is a mortgage lender providing short-term
course of construction financing to builders of residential,
wood-frame properties in Western Canada. The company was formed on
March 28, 2013 but did not commence active operations until
December 12, 2013, on the closing of its initial public offering,
following which it acquired a portfolio of mortgages from two
predecessor companies. Builders Capital's investment objective is
to generate attractive returns, relative to risk, in order to
provide stable and steady distributions to shareholders while
remaining focused on capital preservation and staying within the
criteria mandated for mortgage investment corporations, as defined
in the Income Tax Act.
As a MIC, Builders Capital is not subject to income tax provided
that it distributes all of its taxable income as dividends to
shareholders within 90 days of its December 31st year-end. Such
dividends are generally treated by shareholders as interest
income.
Builders Capital Mortgage Corp.John StrangwayChief Financial
Officer(403) 685-9888(403)
225-9470jstrangway@builderscapital.cawww.builderscapital.ca
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