Bermuda First Investment Company Limited (BFIC) — which focuses entirely on BSX-listed Bermuda companies — today released their quarterly results of $1.3 million in revenue and a dividend of $0.20 per share.And in the official Bermuda Stock Exchange press release giving the results, BFIC also announced that today they had approved giving shareholders the option to elect to receive shares in lieu of cash dividends.In releasing the information, BFIC highlighted a market value of approximately $32.1 million in listed investments, and an interim dividend payment of $0.20 per share.Commenting on the results, BFIC Chairman Michael Collier said: “Whilst Bermuda remains economically challenging we continue to see value in BSX listed Bermuda companies. As a result the board has agreed to issue warrants on a one for three basis to shareholders on the register as of 10 June, 2013. This will provide the Company with additional funds to continue to make strategic investments. “The official press release stated BFIS made a profit of $700,000 on $1.3 million in income. Their total expenses were $0.6 million with $0.4 million relating to accrued interest expenses on the Company’s unsecured 2019 loan notes.They also announced there were one-off expenses totaling $0.1 million relating to the listing of the Company’s shares and loan notes on the BSX in October 2012.The Company’s unrealised loss on its investments for the period was $2.7 million, which was explained as being primarily the result of the KeyTech Limited bid price decreasing to $5.25 just prior to the end of the reporting period. The press release stated: “The current bid price has rebounded significantly and is currently $5.75.”Mr Collier also commented on the KeyTech holdings. “BFIC continues to build strategic investments in BSX listed local companies and it is pleasing to see key holdings such as KeyTech aiming to grow shareholder value through acquisition opportunities.“BFIS has total assets as at March 31, 2012 of approximately $32.7 million and shareholders’ funds of approximately $15.1 million, according to the press release. The Company’s major liability is the $17.1 million unsecured loan notes that it issued to its founder shareholders in October 2012.The Company’s major investments are in KeyTech Limited and The Ascendant Group Limited. In related news, it was announced today that Alasdair Younie, director of BFIS, has just been appointed to the Ascendant board. Mr Collier has just stepped down from that board. He was a forme chairman of Ascendant.In addition BFIC has investments in a number of other BSX listed Bermuda companies, including small holdings in The Bank of N.T Butterfield & Son Ltd, Bermuda Press Holdings Limited, Bermuda Aviation Services Limited, Watlington Waterworks Limited and in the quarter ended March 31, 2013 the Company acquired a small holding in West Hamilton Holdings.The record date for the dividend will be June 21, 2013 and the payment date will be July 12, 2013.Useful website: www.bfic.bm.