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MCAN Mortgage Corporation
Dividend Payments - T5 Reporting
Please note:
MCAN Mortgage Corporation is a Mortgage
Investment Corporation (MIC), under Section 130.1 of the Income Tax Act of Canada.
As such, MCAN Mortgage Corporation 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. Since 2010, the following dividends have been paid:
Payment
Date |
Record Date
|
Interest Dividend
Box 13 |
Capital
Gain Dividend
Box 18 |
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|
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Dividends Paid in 2012
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| |
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|
|
|
January 3, 2012 |
December 2, 2011
|
$0.27 |
|
| TOTAL |
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$0.27 |
|
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|
|
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Dividends Paid in 2011
|
| |
|
|
|
|
January 4, 2011 |
December 15, 2010
|
$0.26 |
|
|
March 31, 2011 |
March 2, 2011
|
$1.00 |
|
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June 30, 2011 |
June 2, 2011
|
$0.27 |
|
|
September 30, 2011 |
September 2, 2011
|
$0.27 |
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| TOTAL |
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$1.80 |
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Dividends Paid in 2010
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| |
|
|
|
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January 4, 2010 |
December 15, 2009
|
$0.26 |
|
|
March 31, 2010 |
March 15, 2010
|
$0.41 |
|
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June 30, 2010 |
June 15, 2010
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$0.26 |
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September 30, 2010 |
September 15, 2010
|
$0.26 |
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| TOTAL |
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$1.19 |
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The Company's policy is to pay a substantial part of its earnings to its shareholders.
The company currently pays a quarterly dividend of $0.27 per share payable on or about
each of March 31, June 30, September 30 and January 1. Additional dividends may be
declared by the Company from time to time.
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