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Firm Capital Mortgage Investment Reports Lower Q2 Earnings, Net Income; Monthly Dividends Declared

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Firm Capital Mortgage Investment (FC.TO) after trade Thursday reported second-quarter earnings per share of C$0.235, down from C$0.263 a year ago.

Three analysts polled by FactSet on average expected C$0.25.

Net income for the quarter ended June 30 fell to C$8.6 million from C$9.7 million a year earlier. The company said the decline was primarily due to a smaller average investment portfolio and lower average portfolio yields during the period.

Three analysts polled by FactSet expected sales of C$14 million and net income of C$9 million.

The company said its board declared a monthly cash dividend of C$0.078 per common share. It will be paid on Nov. 16 to shareholders of record as of Oct. 30, and on Dec. 15 to shareholders of record as of Nov. 30.

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