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What is a Mortgage Investment Corporation?

Our MIC’s pay 100% of their net income in the form of dividends, which are treated by CRA as interest in the hands of our shareholders. The Income Tax Act also requires that a minimum of 50% of our capital be invested in mortgages secured by residential property. Your investment with Cooper Pacific is a qualified investment for RRSP, RRIF, LIRA and TFSA purposes.

There are no fees payable to Cooper Pacific for an investment made in any of our MIC portfolios unless it is a registered investment with an outside trustee. Cooper Pacific now offers no fee RSP, RIF and TFSA accounts directly to our investors. Alternatively, a registered investment such as an RSP, RIF, LIRA, or TFSA can also be invested through an outside trustee. Investors should be aware that their trustee will most likely charge some kind of fee and they should ensure they have a fee schedule providing that information before they proceed. For each new investment opportunity, a team from Cooper Pacific, including management and board members, performs an independent analysis of the project and developer based on key evaluation criteria. The team verifies if the project is a sound investment opportunity, based on the developer reputation and track record, property potential, and the project’s propensity to make enhancements in the community. Please click here to read about some of the current and past projects we’ve financed.

Did you know…

As an investor, you can achieve a higher average rate of return by opting for stock dividends versus cash dividends. When stock dividends are reinvested into the MIC, your overall investment increases exponentially thanks to the compound interest effect.

“Compound interest is the eighth wonder of the world. He who understands it, earns it… he who doesn’t, pays it.”-

Albert Einstein

Here is an example of how the compound interest effect of stock dividends vs. cash dividends plays out over a 5 year period

  • Initial investment = $10,000
  • Assumed 5 year rate of return = 6%
  • Cash dividends received over 5 years = $3,000
  • Reinvested stock dividends received over 5 years = $3,489
  • 5 year rate of return with stock dividends = 6.96%

In this example, stock dividends earned 16% more than cash dividends over 5 years.

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