Incorporated in April of 2011, as a “semi public” “Mortgage Investment Corporation” or “MIC”, aroi acts as a corporate income tax exempt mechanism to pool capital for investment in residential and commercial mortgages throughout Nova Scotia. All aspects of aroi, including credit adjudication, underwriting, and accounting are handled locally through aroi’s Coldbrook headquarters.
Although considered less secure than conventional institutional lending practices, the higher returns afforded by aroi’s common sense lending strategy continue to garner investor attention, as unprecedented volatility continues in the global securities markets.
Aroi issued dividends to shareholders in the following fiscal years:
- March 31, 2012: 4% ($0.40 /share)
- March 31, 2013: 10% ($1.00 / share)
- March 31, 2014: 10% ($1.00 / share)
- March 31, 2015: 11% ($1.10 / share)
- March 31, 2016: 10.5% ($1.05 / share)
As of March 31, 2016 aroi relies on a total of 60 shareholders who have provided $3.3 million of capital and reside in the Provinces of Ontario, Nova Scotia and New Brunswick.
Did you know aroi is a very tax effective investment to hold in your Tax Free Savings Account (TFSA)?
For more information please contact a member of our investment team:
- Matthew Hennigar
- Tom Busch