The rules for MICs are clearly outlined in section 130.1 of the Income Tax Act.
In essence, a mortgage investment corp is a flow-through investment product that provides monthly dividend income. Because paid dividends are taxed as interest income, these investment returns are ideally suited for tax-sheltered accounts like an RRSP, TFSA, LIRA, RRIF, etc.
In addition, many investors invest via unregistered cash accounts including personal or business entities.
Since its inception in 2017, Nest Capital Mortgage Investment Corp has delivered annual returns of 10% paid monthly with the option to join a dividend reinvestment program.