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Our Results
Steady and Consistent Growth
PHL has generated steady, consistent returns since its inception in 2006.
What is a MIC?
A Mortgage Investment Corporation (“MIC”) is an investment and lending company that allows investors to pool funds in a diversified and secured portfolio of residential and commercial mortgage loans. Shares of a MIC are qualified investments under the Canadian Income Tax Act (Section 130.1) for RRSP’s, RRIF’s, TFSA’s, LIRA’s, LIFF’s and RESP’s. The Income Tax Act requires that 100% of a MIC’s annual net income be distributed to its shareholders.
MIC Advantages
MIC’s offer investors a number of attractive advantages, including:
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Experienced management
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Each mortgage secured by tangible Real Estate
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Historically Stable Returns
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Investors own a diversified portfolio of mortgages
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Typically higher yields than traditional investment products
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Ability to invest via self-directed RRSP’s, RRIF’s, TFSA’s, LIRA’s, LIFF’s and RESP’s
established in 2006 and funded over $800 million in mortgages to date
The chart above illustrated the growth of a $100,000 investment since inception with compounding quarterly dividends only and no additional contributions.
Risk Mitigation
PHL has built a proven and established underwriting process upon the following fundamentals:
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Strategic Lending Area
We offer financing primarily in Metro Vancouver and the Fraser Valley only, where both markets exhibit long-term stability, growth and liquidity.
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Credit Committee
All mortgages are reviewed by our four-member credit committee.
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Loan-to-Value Ratio
Our mortgages never exceed 75% of the appraised property value.
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Approved Appraiser List
Every application requires a current appraisal prepared by a qualified and internally approved Appraiser.
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Mortgage Security
All mortgage security prepared and reviewed by qualified legal counsel.
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Stringent underwriting procedures and guidelines
These lending guidelines continue to help PHL successfully navigate the risks associated with real estate investment.
Dividends
Shareholders will be entitled to receive dividends on a quarterly basis. Dividends may be taken as cash or reinvested as additional shares. Dividends reinvested as additional shares will qualify for future dividends.
Dividends are paid out as follows:
Q1
Sept 1 – Nov 30
Dividend paid out by Dec 31st
Q2
Dec 1 – Feb 28
Dividend paid out by Mar 31st
Q3
Mar 1 – May 31
Dividend paid out by June 30th
Q4
June 1 – Aug 31
Dividend paid out within 90 days of fiscal year end