Tag: Dividends
Tag: Dividends
Do MICs need to file an exempt distribution report for shares issued under a DRIP?
Should a Mortgage Investment Corporation ("MIC"), include exempt distributions of shares or other securities issued under a reinvestment plan (i.e. a DRIP or Dividend Reinvestment Plan),...
Example letter to shareholders on deferring dividends from your MIC until year-end
This letter is to inform you that we are deferring the regularly scheduled dividend until the financials for the year end are completed and audited, which...
MIC Foreign Investors & Withholding Taxes on Dividends
The Quick and Simple is that Yes, withholding taxes (usually 25% of gross amount unless subject to a tax treaty with the resident country of the...
Challenges in Starting a MIC: Paying Dividends
One of the biggest challenges in running a MIC is when you first realize that the investors who were once your private lenders are now expecting...
Taxation of a MIC, a Mortgage Investment Corporation
The MIC itself will not pay income tax so long as the profits are flowed through to the shareholders and taxed in their hands. This is...
Managing A MIC, a Mortgage Investment Corporation
The creation of a MIC is similar to other corporations in the method of organization, election of directors/officers and the faculty to appoint committees, hire employees,...
CORPORATE LAW & THEORY: Examples of Share Classes (Rights & Restrictions) and Corporate Organization
Much too often I receive questions about the rights and restrictions that corporate shares carry with them, and what the concept of having different classes of...
