Here you will find information of interest for shareholders and depositors, including our dividend history and our term deposit rates.
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About MCAN Mortgage Corporation ("MCAN")
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MCAN Mortgage Corporation was formerly known as MCAP Inc. The name change became effective on September 15, 2006.
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MCAN is a loan company registered under the Trust and Loan Companies Act (Canada) and is regulated by the Office of the Superintendent of Financial Institutions.
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MCAN is a mortgage investment corporation under Section 130.1 of the Income Tax Act (Canada). As such, MCAN deducts dividends paid to its shareholders from its taxable income and these dividends are normally received by the shareholders as interest income.
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MCAN is a public company listed on the Toronto Stock Exchange under the symbol “MKP” and is a reporting issuer in all provinces and territories in Canada.
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MCAN funds its operations with term deposits eligible for deposit insurance from the Canada Deposit Insurance Corporation. The term deposits are sourced through a network of independent financial brokers.
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MCAN invests its funds in a portfolio of mortgages including single-family residential, residential construction, non-residential construction and commercial mortgages, as well as other types of loans and investments, real estate, securitization investments and marketable securities in the form of corporate bonds and real estate investment, income and royalty trusts.
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MCAN has a 22.7% limited partnership interest in MCAP Commercial LP which is an originator and servicer of mortgage loans for third party investors in Canada. We outsource our mortgage and loan origination and servicing to MCAP Commercial LP and other third party servicers.
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